Birkenstock?s Unveils Underwhelming Public Debut Despite Raising USD1.5 Billion in IPO
The German label raises eyebrows after Stock Exchange debut highlighting the precarious state of the luxury sector.
The post Birkenstock?s Unveils Underwhelming Public Debut Despite Raising USD1.5 Billion in IPO appeared first on LUXUO.
Despite raising USD1.5 Billion in IPO, Birkenstock shares went down by 12.6 percent on the New York Stock Exchange on its first day of trading and could potentially be a bad sign for other brands that are thinking about going public. While going public allows companies to access more capital, they may also bring on scrutiny from shareholders as can be expected from the brand. Alexander Arnault, son to chairman and CEO of LVMH, Bernard Arnault, made an appearance at Birkenstock’s IPO. Earlier this month, the Securities and Exchange Commission revealed the nomination of the 31-year-old to Birkenstock?s board of directors.
While the German shoe brand has successfully captured the attention (and spending power) of a younger generation, Birkenstock also universally changed its perception as a polarising “orthoepic-looking shoe”, to a symbol of casual-chic footwear alongside other anti-fashion, fashion shoes the likes of Uggs and the Crocs ? something Vogue Business attributes to Birkenstock?s attention to quality, innovation and creativity through their control of production. The brand’s Autumn/Winter 2022 campaign for instance, featured a bevy of fashion stylists and artists including the likes of Bernard Ko...
The post Birkenstock?s Unveils Underwhelming Public Debut Despite Raising USD1.5 Billion in IPO appeared first on LUXUO.
Despite raising USD1.5 Billion in IPO, Birkenstock shares went down by 12.6 percent on the New York Stock Exchange on its first day of trading and could potentially be a bad sign for other brands that are thinking about going public. While going public allows companies to access more capital, they may also bring on scrutiny from shareholders as can be expected from the brand. Alexander Arnault, son to chairman and CEO of LVMH, Bernard Arnault, made an appearance at Birkenstock’s IPO. Earlier this month, the Securities and Exchange Commission revealed the nomination of the 31-year-old to Birkenstock?s board of directors.
While the German shoe brand has successfully captured the attention (and spending power) of a younger generation, Birkenstock also universally changed its perception as a polarising “orthoepic-looking shoe”, to a symbol of casual-chic footwear alongside other anti-fashion, fashion shoes the likes of Uggs and the Crocs ? something Vogue Business attributes to Birkenstock?s attention to quality, innovation and creativity through their control of production. The brand’s Autumn/Winter 2022 campaign for instance, featured a bevy of fashion stylists and artists including the likes of Bernard Ko...
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