How Birkenstock made ugly shoes cool again

How Birkenstock made ugly shoes cool again

What you probably already know: Birkenstock is having a bit of a moment. The German shoe company reported a 23% increase in revenue in the second quarter of this year, and increased its projected revenue targets for the year. Profit was up 45% over the same period last year The company has been investing in new factories to keep up with demand, particularly from countries like China and India. For instance, the company just opened its first flagship store in India.

Why? Like other hip brands, Birkenstock has gone after a direct-to-consumer model and has become popular with influencers and celebrities as a result. Yes, that’s right. Those hippie-dippie shoes you used to wear in secret are now hip and cool. The company claims that the average Birkenstock customer owns 3.6 pairs of its shoes.

What it means: Birkenstock’s success is a lesson in just being yourself. The company jumped on the recent trend of younger people rejecting traditional beauty norms and owning their own personal styles. The fact that we all stopped wearing high heels during the pandemic and turned toward more comfortable options also helped.

What happens now? Birkenstock’s stock price has been up and down, but this week’s earnings sent it up significantly. Watch for continued growth of this brand as it chases previously untapped markets in Asia while showing up on the feet of models at high-end fashion shows.