It has been a remarkable revival of a shoe described by its own maker as “ugly”. The centuries-old sandals made by Germany-based Birkenstock had fallen somewhat out of fashion but new management and a change of strategy a decade ago transformed the business from a family-owned company into a global enterprise with 20% annual revenue growth. A takeover by private equity firm L Catterton in 2021 boosted it further, with sales surging 70% between 2020 and 2022. 

Share this story: