Everything is ok but the valuation
$勃肯 (BIRK.US)$ had debut with a 10% drop from its IPO price of USD 46
The company has a very long history , founded in 1774 in Germany , the company had been running by it’s 6th generation from the founder’s family.
Two years ago, most of the controlling stake were sold to L Catterton and CEO of $LVMH Moet Hennessy Louis Vuitton (LVMUY.US)$
Despite having strong branding, strong profit margins , and revenue growth visibility, the stock were not perform well during the first day of IPO, i think it is largely due to it’s very premium valuation of PE of more than 40 times
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