IPO Report: Birkenstock is going public: 5 things to know about the iconic German sandal maker’s IPO designs

by | Sep 14, 2023 | Stock Market

The iconic German sandal and clog maker Birkenstock, beloved of free spirits and pragmatists alike, is going public with plans to list on the New York Stock Exchange under the ticker symbol “BIRK.” The company filed its IPO documents with the Securities and Exchange Commission on Tuesday, but it has not yet offered any details on size or price range.

But the deal will be underwritten by a team of 19 banks, led by Goldman Sachs, JPMorgan and Morgan Stanley, suggesting it will be a substantial one. Birkenstock has been in business for about 250 years and prides itself on its technology and tradition, with the public-offering prospectus offering some detailed information on the anatomy of the foot. “Every foot employs 26 bones, 33 muscles and over 100 tendons and ligaments in walking,” the company says. “Improper footwear can cause friction, pain, injury and poor posture, among other ailments.” Birkenstock invented not just the “Fussbett,” or footbed, which is core to its orthopedic methodology. But Konrad Birkenstock, great-great-grandson of the company’s founder, Johannes Birkenstock, was the first to create a contoured shoe that was shaped differently to match the anatomy of a right and left foot back in 1897. He followed that up in 1902 with the first flexible insole. The footbed was the first to use a shoe last that reflects foot anatomy, mimicking the effects of natural-yielding ground, which enable “naturgewolltes gehen,” or walking as nature intended.

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