Iconic Sandal Maker Birkenstock Goes Public, Raising $1.48B in Blockbuster IPO

Birkenstock, known for cork-soled sandals, raised $1.48B in its IPO, valuing the company at over $9B.

Founded in 1774, Birkenstock sandals became popular in the 1960s and recently broke into the mainstream with designer collaborations.

Sales grew from €292M in 2014 to €1.24B in 2022.

Analysts warn Birkenstock faces a challenging market with consumers cutting back on fashion spending.

Shares will start trading on the NYSE on Wednesday under the ticker BIRK after pricing at $46 per share.