Birkenstock Raises $1.48 Billion in IPO, Prices at $46 per Share
German sandal maker Birkenstock has raised approximately $1.48 billion in its initial public offering (IPO), valuing the company at over $9 billion. The company, known for its cork-soled sandals, gained popularity after collaborations with luxury shoe designers. However, analysts warn that Birkenstock faces a challenging market as it aims to expand in Asia and the United States amidst a cost-of-living crisis. The stock will begin trading on the New York Stock Exchange under the ticker symbol BIRK.