Footwear maker Birkenstock has agreed to sell a majority stake to Catteron Partners, a private equity firm specializing in luxury goods.
Birkenstock announced the news in a press release earlier today, saying that they hoped the partnership would increase production, logistics, and sales growth in markets like India and China.
Current owners Christian and Alex Birkenstock will retain a stake in the company.
Catteron Partners have many luxury brands within their portfolio, including Moet Hennessy, Louis Vuitton, and Financiere Agache.
Birkenstock was one of a few companies that did not see losses during pandemic lockdowns, reporting another record year in sales according to reports. The company currently employs 3,000 people.
© Fourth Estate® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.