Birkenstock Goes Public, Raises $1.48 Billion in its IPO
Once family shoemakers, now a fashion staple, Birkenstock goes public and how!
In its initial public offering (IPO), Birkenstock Holding Ltd. offered around 10.8 million shares, while its shareholders put up an additional 21.5 million shares, altogether raising approximately $1.48 billion, according to the Associated Press.
The Birkenstock sandal traces its origins back to an 18th-century family of shoemakers. In the 1930s, the company began emphasizing foot health over fashion, offering contoured arch support and comfortable, flexible soles.
The original Birkenstock "footbed sandal" designed by Karl Birkenstock debuted in the 1960s with adjustment straps and garnered little interest at first.
After being dubbed the "laughingstock" of a trade fair, Birkenstocks pivoted to marketing to podiatrists and others focused on healthy feet.
American designer Margot Fraser played a significant role in introducing Birkenstocks to the United States in 1966, targeting California. The sandals gained popularity among Northern California hippies and health-conscious individuals when they were initially sold in health stores.
Even Apple founder Steve Jobs was a fan of these comfortable sandals, showing that fashion and comfort could coexist.
Birkenstocks have had multiple fashion moments, with appearances on high-profile runways and collaborations with designers like Marc Jacobs and Dior.
In recent times, comfort has taken the forefront, and Birkenstocks have evolved into a symbol of the "cool girl" aesthetic, worn by celebrities and featured in TikTok styling videos. Margot Robbie even opted for Birkenstocks in the 2023 "Barbie" movie. Recently, a vintage pair of Birkenstocks from the 1970s sold for a staggering $222,000 at an auction.
Birkenstock sandals are proudly manufactured in Germany, while their closed-toed shoes are produced in Portugal.
The recent IPO of Birkenstock marks a significant milestone in the company's journey. From a family shoemaker to a global fashion brand, Birkenstock’s success is a testament to its commitment to foot health, comfort, and timeless style.
