Sandal company Birkenstock needs to sell more clogs and boots and boost sales from its own website and boutiques to attract new shoppers amid a cost of living crisis, investors and analysts said before it lists on the New York Stock Exchange next week.
to put investor focus on the initial public offering market, which is gradually reopening after two relatively quiet years and a burst of activity in September.
Still, Birkenstock has much else going for it - including the ability to stay popular decades since first becoming well-known as somewhat frumpy but comfortable sandals that complete a laidback, hippie look. "The parallel with Crocs is that both aren't necessarily known for being beautiful, right?" said Jessica Ramirez, senior analyst at Jane Hali & Associates.
At a time when foot traffic to major retail stores has been falling, Birkenstock has seen steady store traffic but analysts say it must continue to expand its direct-to-consumer sales to pull in more customers.While Birkenstock had 6,000 wholesale partners in fiscal 2022 it operated only a small network of about 45 of its own boutiques as of June 30.
"The expression of interest from prominent cornerstone investors is remarkable," said Matt Oguz, CEO of Iris Family Office in Silicon Valley, who said he planned to buy Birkenstock shares.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Birkenstock could be worth $10 billionGerman shoemaker Birkenstock could be valued at up to $10 billion when it lists its shares on the stock market for the first time.
Leer más »
Birkenstock could be worth $10 billionThere’s big money in trendy sandals.
Leer más »
Birkenstock's valuation is too high and investors may not make money in its IPO, analyst saysAfter lackluster deals from Arm Holdings and Instacart, investors should rethink IPO valuations, says David Trainer.
Leer más »
New exhibit in New York pays tribute to Dorothy Liebes, who popularized blingy, colorful textilesNew York City has opened a new exhibit dedicated to Dorothy Liebes, a weaver and designer who popularized color, textile, and bling for decades in the 20th century.
Leer más »
Kyoto Animation Arson: New Trial Update Provides New Info From Studio PresidentThe Kyoto Animation Arson trial is ongoing, and the studio's president took time there to address [...]
Leer más »