LVMH-backed Birkenstock prepares for IPO amid fashion M&A wave

The fashion industry is undergoing a wave of mergers and acquisitions driven by financial strategies. In mid-August, Tapestry acquired Capri Holdings for $8.5 billion, creating the second-largest US fashion group after PVH. Kering acquired a 30% stake in Valentino for €1.7 billion from Mayhoola in July, and reportedly bought 49% of high jewelry brand Vhernier. LVMH-backed Birkenstock is preparing for an IPO valued at $8-10 billion, following L Catterton's listings of Lanvin and Oddity Tech. Estée Lauder completed its acquisition of Tom Ford in April. Collaborations are blurring brand boundaries: Billionaire Boys Club partnered with Moncler for a capsule collection, despite its founders being artistic directors of LVMH-owned Kenzo and Louis Vuitton. Uniqlo launched a line with former Chloé and Givenchy designer Clare Waight Keller. The industry is failing to meet 2030 emissions reduction targets due to overproduction and growth-oriented financial dynamics.