Birkenstock sales step up in ‘ugly shoe summer’ | Fashion

Value rises and robust gross sales of closed-toe clogs helped the shoe maker Birkenstock beat revenue expectations because it turned the most recent beneficiary of the “ugly shoe summer time”.The German sandal maker mentioned gross sales rose 16% within the three months to the tip of June, if forex fluctuations had been excluded. The typical worth of its merchandise offered rose by about 5% and the variety of objects offered rose by about 8%.There was demand for its suede leather-based closed-toe Boston clogs, which promote for as a lot as £250 and customarily value greater than the model’s extra well-known sandals, that are priced from £105 for a leather-based model.Whole gross sales on the firm, which listed on the US inventory market in October 2023 valued at $7.5bn (£5.5bn), rose 12% to €635m (£546m) within the quarter with web revenue up 73% to €129m.This summer time there was an upturn in recognition of quirky footwear, from rubber flip-flops to glove-like health footwear that match every particular person toe.Nevertheless, the “ugly” footwear model Crocs final week reported a 30% hunch in gross sales amid new competitors from split-toe footwear to flip-flops and Birkenstock’s clogs, which are available plastic in addition to leather-based.Identified for its cork-lined sandals, Birkenstock pledged to make its providing extra diverse, with extra clogs, trainers, footwear and boots when it launched on the inventory market.The corporate makes 95% of its footwear at its personal factories in Germany. Its chief government, Oliver Reichert, mentioned it was “well-positioned to handle the affect” of latest US import tariffs of 15% on items imported from the EU.He mentioned the upper prices can be managed by way of a mix of “pricing adjustment, value self-discipline and stock administration to guard the long-term well being and profitability of the Birkenstock model”.skip previous e-newsletter promotionSign as much as Enterprise TodayGet set for the working day – we’ll level you to all of the enterprise information and evaluation you want each morningPrivacy Discover: Newsletters might include data about charities, on-line advertisements, and content material funded by outdoors events. For extra info see our Privateness Coverage. We use Google reCaptcha to guard our web site and the Google Privateness Coverage and Phrases of Service apply.after e-newsletter promotionReichert mentioned that the corporate was on monitor to realize full-year gross sales development on the high finish of expectations of 15% to 17%.