Platinum International Brands Fund’s Views on Birkenstock (BIRK)

Platinum Asset Management, an investment management company, released its Q3 2025 investor letter for “Platinum International Brands Fund”. A copy of the letter can be downloaded here. The fund returned 1% in the quarter compared to 6% for the MSCI AC World Index. This was a challenging quarter for the fund. The performance in the quarter was affected by the shift of capital to AI names. Also, in the US, indications of declining consumer confidence and lackluster job figures have put a damper on the consumer brands industry. The fund continues to see brand-based businesses as attractive investments. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2025.

In its third-quarter 2025 investor letter, Platinum International Brands Fund highlighted stocks such as Birkenstock Holding plc (NYSE:BIRK). Birkenstock Holding plc (NYSE:BIRK) engages in the manufacturing and distribution of footwear products. The one-month return of Birkenstock Holding plc (NYSE:BIRK) was 8.45%, and its shares lost 21.63% of their value over the last 52 weeks. On December 08, 2025, Birkenstock Holding plc (NYSE:BIRK) stock closed at $42.61 per share, with a market capitalization of $7.836 billion.

Platinum International Brands Fund stated the following regarding Birkenstock Holding plc (NYSE:BIRK) in its third quarter 2025 investor letter:

“Until a decade ago, Birkenstock was a sleepy, family-owned European business. With a 250-year heritage, its brand was iconic, but the business was stagnant – mismanaged, bloated and directionless.

In 2013, a new CEO, Oliver Reichart, was appointed to professionalise the enterprise. A decade later, Birkenstock is a lean, sharp, commercial machine. The brand has broadened its appeal from ‘hippies, grannies, and tourists’ into the fashion mainstream, attracting an army of advocates that includes a roster of celebrities. All while retaining its cherished authenticity.

This metamorphosis caught the eye of LVMH’s Bernard Arnault, whose family office acquired the business in 2021 and took it public again in 2023, retaining a two-thirds stake. Arnault, perhaps the world’s most astute brand investor, recognised the inherent power of this sleeping giant…” (Click here to read the full text)

In another article, we covered Birkenstock Holding plc (NYSE:BIRK) and shared Baron Discovery Fund’s views on the company. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.