The German label raises eyebrows after Stock Exchange debut highlighting the precarious state of the luxury sector
.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.
While the German shoe brand has successfully captured the attention of a younger generation, Birkenstock also universally changed its perception as a polarising “orthoepic-looking shoe”, to aalongside 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.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mayor Brandon Johnson unveils first city budget, BGA puts it into perspectiveMayor Brandon Johnson's first budget for the city of Chicago offers relatively modest increases in citywide spending and staffing.
Read more »
Timberview High School unveils calm room for students to self-regulate their emotionsTimberview High School has unveiled a new therapeutic room to give students a place to self-regulate their emotions and reset during the school day.
Read more »
Grimsburg: FOX Unveils Official Trailer For Jon Hamm Animated SeriesCatch the series premiere episode of Grimsburg starring Jon Hamm January 7th on FOX! Subscribe for More: http://fox.tv/SubscribeAnimationonFOX See more of Grimsburg on our official site: https://www.fox.
Read more »