For the French multi-billionaire Bernard Arnault, the traditional German company Birkenstock becomes a gold mine. This is mainly due to clever marketing, says our financial correspondent Hannes Breustedt.
My villa, my yacht, my Birkenstocks: Of all things, the eco and health flip-flops of the past have become objects of desire for rich celebrities and influencers. This is remarkable because not much has changed in the product. The success story is primarily about clever marketing. With the IPO, Birkenstock will now become a goldmine for its owners around the French luxury mogul Bernard Arnault.
As with the case manufacturer Rimowa, which LVMH took over 80 percent at the beginning of 2017, Arnault recognized the potential of a traditional German company. An exclusive image was deliberately built up through collaborations with major fashion houses such as Dior, which are marketed in limited editions at high prices and worn by stars.
The Barbie boom gives Birkenstock a boost
The timing for Birkenstock’s stock market debut seems good: since the crisis year of 2022, which was characterized by high inflation, rapidly rising interest rates and severe price losses, companies have been reluctant to go public, but the market is likely to pick up speed again in the second half of the year.
The Barbie boom is now giving Birkenstock even more momentum. For the success-spoiled Arnault – according to Forbes with an estimated fortune of almost 230 billion dollars the second richest person in the world after Tesla boss Elon Musk – things could hardly go better.
2023-08-01 16:26:09
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