© Reuters. FILE PHOTO: A shopper walks past a Birkenstock shoe store in London, Britain, October 11, 2023. REUTERS/Toby Melville/File Photo), with most of them assigning their top ratings as they bank on brand loyalty and easing supply chain issues at the German luxury sandal maker.
The IPO had nearly two dozen underwriters, all of whom had to wait until this weekend to start coverage as required by industry practice. "Given its historic brand and loyal customer base, we believe the company is well-positioned to drive strong top-line growth, maintain its attractive margin profile, and expand its addressable market," said analysts at Jefferies. Goldman Sachs sees an opportunity for market share gains, supported by the easing of supply constraints, as well as Birkenstock's pricing ability.
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