March 2, 2021
Global lifestyle brand Birkenstock has sold a majority stake to L Catterton, and its affiliates including Financière Agache, the family investment company of Bernard Arnault.
The expansion of the company’s shareholders is the next step for Birkenstock to facilitate further growth in future growth markets such as China and India. In Europe and America, Birkenstock will further expand its 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.
Oliver Reichert, CEO of the Birkenstock Group, said: “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. Together, 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.”
Michael Chu, Co-CEO of L Catterton, added: “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.”