The 249-year-old shoe company said in its IPO filing that knock-off brands have used social media to try and “trick users” into buying cheap fakes.
Birkenstock, the 249-year-old shoe company said on Tuesday that it plans to go public on the New York Stock Exchange under ticker symbol"BIRK."
In the risk factors section of its prospectus, Birkenstock warned that it faces competition from"knock-offs." One tactic they've used is offering promotions on Facebook and other sites to"trick users into believing that they were purchasing Birkenstock products at a steep discount."for an IPO on Tuesday, and warned investors of the risks posed by counterfeit brands who use social media to promote their products.
The footwear company, which was started in Germany and is now based in London, plans to go public on the New York Stock Exchange, under ticker symbol"BIRK." Birkenstock has long struggled to protect its intellectual property, as copycats have taken advantage of the brand's popularity and premium prices to try and undercut the company with cheaper alternatives.
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