Birkenstock Sandals Walk the Line From Hippie to High Fashion as $8.6 Billion IPO Looms

Birkenstock sandals have transformed from a niche, unfashionable product to a massively popular, celebrity-endorsed brand worth billions.

The company is pursuing an IPO that values it at $8.6 billion, more than double its worth a few years ago, amid concerns that public ownership could hurt quality.

Birkenstock found fame in the 1960s among hippies but has now gained fashion credibility through collaborations and celebrity sightings.

The brand went mainstream thanks to its emphasis on comfort during the pandemic and an appearance in the Barbie movie.

As an established company, the IPO is seen as a natural next step, but some loyal customers fear it will bring pressure to expand in ways that could dilute Birkenstock's appeal.