Birkenstock: Formerly Uncool Sandal Manufacturer Now Valued in Billions

German sandal company Birkenstock, known for its emphasis on comfort and support, is set to test its market power as it prepares to go public on the New York Stock Exchange. The initial public offering values the company at around $8.6 billion, more than double its worth three years ago. Birkenstock has come a long way since its early days when it was considered unfashionable and worn by hippies. It has since gained popularity through collaborations with fashion designers and endorsements from celebrities. The company's success has been further boosted during the pandemic, with a growing demand for comfortable footwear. However, there are concerns about the effects of going public on the brand's future, as some fear it may lead to a decline in quality. Despite this, Birkenstock plans to retain an 80% stake in the company, indicating its confidence in continued success. The IPO follows a trend in the footwear and fashion industry, with some companies experiencing a decline in fortunes while others have shown staying power. Overall, Birkenstock's focus on both style and comfort may give it an edge in the market, even beyond current trends.