Birkenstock has filed for an initial public offering with the US Securities and Exchange Commission. The German footwear brand, which is owned by LVMH-backed private equity firm L Catterton, plans to list on the New York Stock Exchange under the symbol BIRK.

The number of shares as well as the expected range of the share price, was not included in the filing, though previous reports estimated the brand could be valued at as much as $10 billion. That number would represent a significant jump from 2021, when L Catteron acquired Birkenstock for €4 billion (then about $4.3 billion).

In the filing, Birkenstock reported €1.2 billion ($1.3 billion) in revenue in the 2022 fiscal year, which ended Sept. 30. As well, it reported a profit of €187 million ($201 million).

There has been a bit of an uptick in IPO activity in the fashion and beauty space as of late. Most recently, beauty tech platform Oddity, which was also backed by L Catterton, went public in July, fetching a valuation of $1.5 billion.

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