Recent footwear flotations have not fared well but German brand hopes to buck trend with multibillion listing in US
t may be hard to believe but Birkenstocks were once seriously unfashionable, the go-to footwear of hippies willing to sacrifice style for arch support. Now those early adopters of frumpy sandal chic stand to be vindicated as the German shoemaker tries to bank its now mainstream appeal with a
Hyperbole aside, walking around in Birkenstock sandals that have moulded to your feet certainly fitted with the “way of living” ushered in by the coronavirus pandemic. During the crisis, interest in brands that offered comfort and heritage soared and remains strong. Workers are back in the office but dress codes are more relaxed than ever, with no raised eyebrows if your boss can see your toes rather than the shine of your shoes.
Mind you, it also helps that its sandals are seen regularly on the feet of movie stars and models, including Kendall Jenner, Gigi Hadid and Kaia Gerber .Louise Déglise-Favre, a fashion analyst at the retail consultancy GlobalData, says that Birkenstock has managed to completely change its brand image from that of an orthopaedic shoe to a fashionable staple.
However, analysts warn that the shoemaker is taking the plunge in difficult market conditions, with investors worried about the economic backdrop and declining consumer confidence, as well as the poor performance of the initial public offerings by other footwear brands.
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