On Wednesday, the footwear brand took another step into the big leagues with an IPO in New York, reportedly valuing the company at $8.6 billion. Here are five things to know about Birkenstock
Employee Mo Soto arranges a shelf at a Birkenstock store on October 10, 2023 in Venice, California. German footwear company Birkenstock is reportedly planning to offer 32.3 million shares priced at $44 to $49, and is expected to attain a valuation of $9.2 billion. Image: Ethan Swope/Getty Images/AFP
When actress Margot Robbie swapped high heels for pink Birkenstocks in the hit summer movie "Barbie," it illustrated how the sandals have transformed from unglamorous, practical footwear to a highly-coveted fashion item.
The company was founded 250 years ago in rural Germany, and remained in the hands of the Birkenstock family until heirs, brothers Alex and Christian, sold a majority stake in 2021.
On Wednesday, the footwear brand will take another step into the big leagues with an IPO in New York, reportedly valuing the company at $8.6 billion.