Birkenstock quality declining under L Catterton PE ownership as prices rise

Since L Catterton (LVMH's PE arm) acquired Birkenstock in 2021 and took it public in 2023, consumers report thinner cork footbeds, cheaper-feeling materials, reduced quality control, and significant price increases. Core models now $150-$170+, up substantially from pre-acquisition prices. Classic PE playbook: cut production costs while raising prices to maximize margins for IPO.