Birkenstock’s revenues increased 21% year over year to 1.12 billion euros (about $1.19 billion) for the nine months ended June 30, 2023.
The footwear brand’s net profit decreased about 20% from 129 million euros to 103 million euros during the period, according to an updated F-1 registration filing Friday. Meanwhile, its number of units sold jumped 5% and its direct-to-consumer penetration increased from 34% of revenues to 37%. The company’s gross profit margin expanded from 59% to 61% while its average selling price increased 15%.
Birkenstock’s updated financial insight comes after the brand on Tuesday filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering. The number of ordinary shares to be sold and the price range for the proposed offering have yet to be determined, though the company’s filing revealed that it generated 1.24 billion euros in revenue and a net profit of 187 million euros during fiscal 2022.
The company’s filing also reveals demographic information about its “broad and democratic” customers. Birkenstock’s consumer base is 72% female and 28% male, while 54% are based in the Americas. Demonstrating a diverse group of age ranges, 31% of the company’s customers are millennials, 30% are baby boomers, 27% are Gen X and 12% are Gen Z.
With the completion of an IPO, Birkenstock will be a controlled company with L Catterton holding a majority of the combined voting power of its outstanding ordinary shares.