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Birkenstock IPO filing warns of knock-offs on Facebook

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Birkenstock IPO filing warns of knock-offs on Facebook

Nordstrom department store display of Birkenstock sandals at the Shops at Merrick Park, Miami.

Jeff Greenberg | Universal Images Group | Getty Images

Birkenstock, the iconic sandal maker founded in 1774, filed its paperwork for an initial public offering on Tuesday, and warned investors of the risks posed by counterfeit brands that 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. In its prospectus, Birkenstock says that some of the competition comes from “private label offerings” from retailers, but there are also “knock-off products” that are stealing its IP and trying to convince people on Facebook and elsewhere on the web that the items are authentic.

“In the past, third parties have established websites to target users on Facebook or other social media platforms with ‘look alike’ websites intended to trick users into believing that they were purchasing Birkenstock products at a steep discount,” the filing said. “Should counterfeit products be successfully sold on e-commerce platforms managed by third parties, our brands and reputation could be damaged.”

Birkenstock doesn’t name Amazon anywhere in the 206-page — plus footnotes — filing, but it does say that it has “refrained, and we may in the future refrain, from using certain third-party websites to distribute our products due to the selling of counterfeit products on such platforms.”

Seven years ago, Birkenstock publicly quit Amazon in the U.S. due to an eruption of counterfeit and unauthorized sales on the site. The company also said at the time that it would no longer allow authorized Birkenstock merchants to sell on Amazon.

“The Amazon marketplace, which operates as an ‘open market,’ creates an environment where we experience unacceptable business practices which we believe jeopardize our brand,” then-Birkenstock USA CEO David Kahan wrote in a memo on July 5, 2016, addressed to “our valued Birkenstock partners.”

Kahan, whose title is now President Americas, went on to say that “policing this activity internally and in partnership with Amazon.com has proven impossible.”

Prior to its departure from Amazon, legions of Chinese sellers had been promoting Birkenstock’s flagship Arizona sandal for $79.99, or $20 below the retail price, according to CNBC’s reporting at the time.

Since 2016, according to the prospectus, Birkenstock has “significantly expanded” its direct-to-consumer efforts in e-commerce in the U.S. For the fiscal year ending Sept. 30, 2022, that channel represented 38% of revenue, the company said, adding that “one of our strategies is to continue to increase the proportion of our revenues from e-commerce.”

Subsequent to the Amazon clash, Birkenstock sold a majority stake in the company to LVMH-backed private equity firm L Catterton in February 2021. After the IPO, L Catterton will continue to own a majority of Birkenstock, according to the filing.

“We see ourselves as the oldest start-up on earth,” the company said in the filing. “We are a brand backed by a family tradition of a quarter of a millennium with the resilience, timeless relevance, and credibility of a multigenerational business.”

Facebook parent Meta is well aware of the efforts taken by counterfeiters on its platform. In 2021, Facebook and luxury brand Gucci filed a joint lawsuit in California, alleging that a user of Facebook’s U.S. sites was using the platform to sell fake Gucci products.

The companies said in a statement that over a million “pieces of content were removed from Facebook and Instagram in the first half of 2020, based on thousands of reports of counterfeit content from brand owners, including Gucci.”

In the six months ending March 31, Birkenstock’s revenue climbed 19% to 644.2 million euros, or $693.2 million. Net income over that stretch dropped 45%, largely due to a foreign exchange loss.

WATCH: Birkenstock files for U.S. IPO on NYSE

Birkenstock files for U.S. IPO on NYSE under 'BIRK'

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Social media blocks are “a suppression of an essential avenue for transparency”

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In this photo illustration the word censored is seen displayed on a smartphone with the logos of social networks Facebook, WhatsApp and YouTube in the background.

Once praised as the defining feature of the internet, the ability to connect with physically distant people is something that governments have recently been seemingly intent on restricting. Authorities have been increasingly pulling the plug, putting over 4 billion people in the shadows in the first half of 2023 alone

Social media platforms are often the first means of communication to be restricted. Surfshark, one of the most popular VPN services, counted at least 50 countries guilty of having curbed these websites and apps during periods of political turmoil such as protests, elections, or military activity.

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Former Myanmar colonel who once served as information minister gets 10-year prison term for sedition

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Former Myanmar colonel who once served as information minister gets 10-year prison term for sedition

BANGKOK (AP) — A former high-profile Myanmar army officer who had served as information minister and presidential spokesperson in a previous military-backed government has been convicted of sedition and incitement, a legal official said Thursday. He was sentenced to 10 years in prison.

Ye Htut, a 64-year old retired lieutenant colonel, is the latest in a series of people arrested and jailed for writing Facebook posts that allegedly spreading false or inflammatory news. Once infrequently prosecuted, there has been a deluge of such legal actions since the army seized power from the elected government of Aung San Suu Kyi in February 2021.

He was arrested in late October after a military officer from the Yangon Regional Military Command reportedly filed a change against him, around the time when some senior military officers were purged on other charges, including corruption. He was convicted on Wednesday, according to the official familiar with the legal proceedings who insisted on anonymity for fear of being punished by the authorities.

Ye Htut had been the spokesperson from 2013 to 2016 for President Thein Sein in a military-backed government and also information minister from 2014 to 2016.

After leaving the government in 2016, Ye Htut took on the role of a political commentator and wrote books and posted articles on Facebook. For a time, he was a visiting senior research fellow at the ISEAS-Yusof Ishak Institute, a center for Southeast Asia studies in Singapore.

After the army’s 2021 takeover, he often posted short personal vignettes and travel essays on Facebook in which he made allusions that were generally recognized to be critical of Myanmar’s current military rulers.

The army’s takeover triggered mass public protests that the military and police responded to with lethal force, triggering armed resistance and violence that has escalated into a civil war.

The official familiar with the court proceedings against Ye Htut told The Associated Press that he was sentenced by a court in Yangon’s Insein prison to seven years for sedition and three years for incitement. Ye Htut was accused on the basis of his posts on his Facebook account, and did not hire a lawyer to represent him at his trial, the official said.

The sedition charge makes disrupting or hindering the work of defense services personnel or government employees punishable by up to seven years in prison. The incitement charge makes it a crime to publish or circulate comments that cause fear, spread false news, agitate directly or indirectly for criminal offences against a government employee — an offense punishable by up to three years in prison.

However, a statement from the Ministry of Legal Affairs said he had been charged under a different sedition statute. There was no explanation for the discrepancy.

According to detailed lists compiled by the Assistance Association for Political Prisoners, a watchdog group based in Thailand, 4,204 civilians have died in Myanmar in the military government’s crackdown on opponents and at least 25,474 people have been arrested.



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Top CIA agent shared pro-Palestinian to Facebook after Hamas attack: report

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Top CIA agent shared pro-Palestinian to Facebook after Hamas attack: report

A high-ranking CIA official boldly shared multiple pro-Palestinian images on her Facebook page just two weeks after Hamas launched its bloody surprise attack on Israel — while President Biden was touring the Jewish state to pledge the US’s allegiance to the nation.

The CIA’s associate deputy director for analysis changed her cover photo on Oct. 21 to a shot of a man wearing a Palestinian flag around his neck and waving a larger flag, the Financial Times reported.

The image — taken in 2015 during a surge in the long-stemming conflict — has been used in various news stories and pieces criticizing Israel’s role in the violence.

The CIA agent also shared a selfie with a superimposed “Free Palestine” sticker, similar to those being plastered on businesses and public spaces across the nation by protesters calling for a cease-fire.

The Financial Times did not name the official after the intelligence agency expressed concern for her safety.

“The officer is a career analyst with extensive background in all aspects of the Middle East and this post [of the Palestinian flag] was not intended to express a position on the conflict,” a person familiar with the situation told the outlet.

The individual added that the sticker image was initially posted years before the most recent crisis between the two nations and emphasized that the CIA official’s Facebook account was also peppered with posts taking a stand against antisemitism.

The image the top-ranking CIA official shared on Facebook.

The latest post of the man waving the flag, however, was shared as Biden shook hands with Israeli leaders on their own soil in a show of support for the Jewish state in its conflict with the terrorist group.

Biden has staunchly voiced support for the US ally since the Oct. 7 surprise attack that killed more than 1,300 people, making the CIA agent’s posts in dissent an unusual move.

A protester walks near burning tires in the occupied West Bank on Nov. 27, 2023, ahead of an expected release of Palestinian prisoners in exchange for Israeli hostages. AFP via Getty Images

In her role, the associate deputy director is one of three people, including the deputy CIA director, responsible for approving all analyses disseminated inside the agency.

She had also previously overseen the production of the President’s Daily Brief, the highly classified compilation of intelligence that is presented to the president most days, the Financial Times said.

“CIA officers are committed to analytic objectivity, which is at the core of what we do as an agency. CIA officers may have personal views, but this does not lessen their — or CIA’s — commitment to unbiased analysis,” the CIA said in a statement to the outlet.

The top CIA official has since deleted the pro-Palestinian images from her social media page. Hamas Press Service/UPI/Shutterstock

Follow along with The Post’s live blog for the latest on Hamas’ attack on Israel


Neither the Office of the Director of National Intelligence nor the White House responded to The Post’s request for comment.

All of the official’s pro-Palestinian images and other, unrelated posts have since been deleted, the outlet reported.

Palestinian children sit by the fire next to the rubble of a house hit in an Israeli strike. REUTERS

The report comes as CIA Director William Burns arrived in Qatar, where he was due to meet with his Israeli and Egyptian counterparts and the Gulf state’s prime minister to discuss the possibility of extending the pause in fighting between Israeli forces and Hamas terrorists in the Gaza Strip for a second time.

Israel and Hamas agreed Monday to an additional two-day pause in fighting, meaning combat would likely resume Thursday morning Israel time if no additional halt is brokered.

Both sides agreed to release a portion of its hostages under the arrangement.

More than 14,000 Palestinians in Gaza, including many women and children, have been killed in the conflict, according to data from the Hamas-controlled Ministry of Health.



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