Skip navigation
26.02.2021

Strategic partnership with L Catterton and Financière Agache

BIRKENSTOCK sets the course for further global growth

section-bg-footwear-mainheader.jpg

- BIRKENSTOCK expands its shareholder base and thus opens a new chapter in the success story of the long-established company

- Management continues to pursue successful strategy - Birkenstock brothers retain stake in the company

Global lifestyle brand BIRKENSTOCK has reached an agreement to sell a majority stake in BIRKENSTOCK Group toL Catterton, the largest and most global consumer-focused private equity firm, and its affiliates including Financière Agache, the family investment company of Bernard Arnault. Details of the agreement and the acquisition price are not disclosed due to confidentiality agreements between all parties. The transaction is subject to the usual antitrust audits.

The two brothers Christian and Alex Birkenstock and the management are entering this strategic partnership after carefully examining all options. The expansion of the company's shareholders is the next logical step for BIRKENSTOCK to facilitate further strong growth in future growth markets such as China and India. In Europe and America, BIRKENSTOCK will further expand its leading market position by investing in the German sites and expanding production, logistics and sales operations. At the same time the company plans to invest in the further development of its direct-to-consumer business and the expansion of its e-commerce platforms.

The involvement of the new partners marks the latest highlight of a unparalleled success story in the global footwear industry, which started in 2012 with the formation of the BIRKENSTOCK Group under the leadership of Oliver Reichert and Markus Bensberg, the first non-family CEOs, and has since brought the company double-digit sales growth every year.

The move comes at a time when the long-established German company is performing better than ever before in its 250-year history. While many companies in the sector have suffered during the Corona crisis, BIRKENSTOCK recently reported another record year. In order to accommodate the strong growth, the BIRKENSTOCK CEOs recently launched a comprehensive investment offensive that includes expanding production capacity at the world's largest manufacturing site in Görlitz and strengthening all of the other production sites in Germany.

Oliver Reichert, CEO of the BIRKENSTOCK Group: “In L Catterton and Financière Agache we have found not just shareholders, but also partners for achieving our global growth ambitions. They have a great deal of know-how and excellent access to international markets. Both future partners share our growth strategy; for our products to be represented in all international markets and in all channels, while maintaining our long-standing traditions and the unique offer of quality and sustainability “made in Germany”. We enter this partnership with both our traditions as a family business and a commitment to our roots and our employees front-and-centre. Today marks a quantum leap into the next chapter of our success story. However, we can only write this new chapter thanks to the great work and tireless dedication of all our employees."

Christian and Alex Birkenstock: “For the next 250 years we need partners sharing the same strategic and long-term vision as the Birkenstock family. In L Catterton and Financière Agache, we have found those partners. They bring both a deep understanding of the details of a manufacturing business that is all about quality and a respect for brands with a long heritage like ours. We look forward to taking the next steps with our partners and carrying our family business into an even brighter future.”

Michael Chu, Co-CEO of L Catterton: “We look forward to partnering with the exceptional management team and the Birkenstock family, as well as our longtime partner Bernard Arnault in one of the most iconic and well-regarded brands in this industry. We are confident that L Catterton’s unique capabilities and our global platform and network will provide BIRKENSTOCK not only with new opportunities, but the resources to support the continued growth in the brand and the business.”

Bernard Arnault: “BIRKENSTOCK was founded nearly 250 years ago and has grown to become one the few iconic brands in the footwear industry. We truly appreciate brands with this long heritage, and accordingly, I am delighted that Financière Agache, my family investment company, will invest in the company alongside L Catterton, with whom we have a longstanding and close partnership. Together we will provide support to the business so it can fully realize its significant growth potential.”

About L Catterton

With approximately $23 billion of equity capital across its fund strategies and 18 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton's team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. For more information about L Catterton, please visit lcatterton.com.

About Financière Agache

Financière Agache is a holding company controlled by Agache, the Arnault family holding company. Financière Agache and its affiliates hold a 97.5% ownership in Christian Dior and is the controlling shareholder of LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group. Financière Agache also holds a portfolio of diversified financial investments.

Contact - News Birkenstock

About BIRKENSTOCK

BIRKENSTOCK is a global brand which embraces all consumers regardless of geography, gender, age and income and which is committed to a clear purpose - maintaining foot health. Deeply rooted in studies of the biomechanics of the human foot and footed on a family tradition of shoemaking that can be traced back to 1774, BIRKENSTOCK is a timeless «super brand» with a brand universe that transcends product categories and ranges from entry-level to luxury price points while addressing the growing need for a conscious and active lifestyle. Function, quality and tradition are the core values of the lifestyle brand which features products in the footwear, sleep systems and natural cosmetics segments. BIRKENSTOCK is the inventor of the footbed and has shaped the principle of walking as intended by nature (“Naturgewolltes Gehen”).

With around 6,200 employees worldwide, we believe how things are made matters as much as the product itself. To ensure these quality standards, we operate a vertically integrated manufacturing base and produce all our footbeds in Germany. In addition, we assemble over 95% of our products in Germany and we source over 90% of our materials and components from Europe. We process our inputs to the highest environmental and social standards in the industry by operating state-of-the-art scientific laboratories for materials testing.

BIRKENSTOCK runs operational sites in Germany, in the states of North Rhine-Westphalia, Rhineland-Palatinate, Hesse, Bavaria, Saxony, and Mecklenburg-Western Pomerania. Headquartered in Linz am Rhein, the BIRKENSTOCK Group also operates its own sales offices in the United States and Canada as well as in Brazil, Japan, Denmark, Poland, Switzerland, Sweden, Spain, the United Kingdom, France, Norway, the Netherlands, Dubai, Singapore and India.

Birkenstock Group B.V. & Co. KG Burg Ockenfels,
Linz am Rhein, Germany

You can find our online shop at www.birkenstock.com

Contact - News Birkenstock

PRESS

02.05.2024

BIRKENSTOCK INTRODUCES SHINJUKU

Read more
26.04.2024

BIRKENSTOCK INDIA OPENS ITS FIRST FLAGSHIP STORE IN MUMBAI

Read more
19.03.2024

BIRKENSTOCK EXPANDS ITS RETAIL PRESENCE IN JAPAN WITH A CONCEPT STORE IN SHINJUKU, TOKYO.

Read more
23.02.2024

BIRKENSTOCK INAUGURATES ITS FIRST OFFICE FOR THE BENELUX IN AMSTERDAM

Read more
22.02.2024

BIRKENSTOCK celebrating the archive

Read more