German sandal maker Birkenstock has filed for an initial public offering (IPO) in the US, following the footsteps of British chipmaker Arm to become the second European giant seeking a foreign listing this month.

Financial details of the filing were not disclosed, but some sources reported that the company is targeting a valuation of more than $8 billion.

The company filed a confidential prospectus to regulators in July, but the public filing would allow it to join the New York Stock Exchange from early October.

Birkenstock posted a net revenue growth of 19 per cent to $692.87 million for the six months ended March 31, while profit fell 45.3 per cent to $43.2 million.

This will be the second IPO for one of L Catterton’s portfolio companies in just a few months, following online beauty retailer Oddity Tech’s listing on Nasdaq in July.

It also comes after other filings of several big names including SoftBank Group-owned Arm, data automation provider Klaviyo, and grocery delivery app Instacart.

Founded by Johann Adam Birkenstock in 1774, the company is among the top five global footwear brands with about 5500 employees and products sold to 90 countries on all continents. 

It took private equity money for the first time when L Catterton bought a majority stake in the company in 2021.