Currently, they are valued at about R71 billion.
Since the start of the pandemic, demand for luxury shoes like high-heels has declined by 21%. In comparison, searches for comfortable slippers have gone up by an astounding 242%, reports The Guardian. This is exactly why Birkenstocks has continued to show excellent growth, despite the global pandemic. The brand is 247 years old and focuses on creating comfortable, orthopedic shoes that are sold around the world. Their sudden increase in sales makes sense. People are staying at home, not dressing up, and have no events to go to. Birkenstocks are thus the perfect shoe for those looking to stay stylish while prioritising comfort. Currently, there is a bidding war going on to acquire a large stake in the company. Birkenstocks has been valued at a whopping R71 billion in a recent evaluation.