** Shares of German sandals maker Birkenstock BIRK.N down 1.9% in extended trading to $53.25 after it launches secondary offering

** Co says affiliate of private equity firm L Catterton to sell ~15.7 mln shares

** Concurrently, co to repurchase $200 mln worth of shares, (roughly ~3.7 mln shares) from the underwriters

** Goldman Sachs and JP Morgan acting as joint lead book-running managers, joined by BofA

** L Catterton, backed by French billionaire Bernard Arnault and luxury goods giant LVMH LVMH.PA, currently owns ~135 mln shares, or ~72% stake

** Arnault owns ~10.4 mln BIRK shares, or 5.5% stake, through his family office, Financière Agache, per LSEG data

** BIRK has ~187.8 mln shares outstanding for $10.2 bln market cap

** BIRK shares on Weds edged up 0.2% to close at $54.30, down 4% YTD

** Earlier this month, co said it plans to raise prices globally and seek production efficiencies to help offset tariffs

** 18 of 21 analysts covering BIRK rate stock "strong buy" or "buy", rest rate "hold" and median PT is $70, latest LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))