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Birkenstock IPO: Can the Sandal-Maker Be the Next Big Footwear Stock?

When you think of growth stocks, you probably don’t think of footwear makers, but the industry has had a surprising number of big winners in recent history. Nike (NYSE: NKE) is likely the best known of the group, and the Swoosh has delivered monster returns over its history.

But more recently, other footwork stocks have shined. These include Deckers Outdoor, the parent of the Ugg, Hoka, and Teva brands; Crocs; and Skechers USA. All have outperformed both Nike and the S&P 500 by a wide margin over the last decade, as the chart below shows:

CROX Chart

CROX data by YCharts.

Unlike much of the broader apparel industry, footwear companies benefit from strong branding. And demand for casual footwear has been strong over the last decade, driven in part by the remote-work trend kicked off by the COVID-19 pandemic.

Now, Birkenstock Holding (BIRK 1.24%) has become the latest company to enter the fray. The 249-year-old company went public on Wednesday, but the debut was not so well-received; the stock finished the session down 12.6% from its $46 listing price.

However, investors shouldn’t write off Birkenstock on the basis of a weak opening day. Let’s take a closer look at what the footwear stock offers to see if it can repeat the performance of peers like Deckers.

A person walks a dog while dressed in athletic clothes and shoes.

Image source: Getty Images.

A big step forward

Birkenstock has been well-known for its leather sandals for generations, Over the last decade the company has reinvented itself, in part due to the influence of new investors, and its growth has been impressive. Revenue has risen by more than 300% from 2014 to 2022, for a 20% compound annual growth rate, reaching 1.24 billion euros last year.

Its growth took off after the Birkenstock family brought in its first outside

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Marketing Agency

Complex Agency Rosters Give CMOs Headaches. Mekanism Wants To Offer Pain Relief

A year and a bit since its acquisition by Canadian holdco Plus, Mekanism’s boss shares how it is looking to expand with a two-rail strategy.

Despite the smoke blown by ad agencies about the culture-breaking creative, agile teams or moving at the speed of social, a lot of marketers choose agencies because they think they stand a decent chance of solving the problems plaguing their organizations.

Speaking to The Drum remotely from a hotel room in Miami where he’s attending a marketing conference, Mekanism co-founder and chief executive Jason Harris hopes that’s the case.

Mekanism was acquired just over a year ago by Canadian holding firm Plus Company, which also owns agencies Cossette, We Are Social and 55 Rush. Harris says the last 14 months or so have meant “a lot of change” for the business he founded – the main being that he’s had to remember what it’s like to have a boss.

“It took some learning to manage up versus being managed up,” he says. “That was a new skill. It’s taken me this year to develop that muscle memory.”

Headcount at the agency has grown around 10-15% since the Plus deal was inked, with new staffers joining its media, UI, UX and AI practices. One particular addition has come through Zapiens, a boutique Madrid design agency that has brought 20 new digital designers under the Mekanism umbrella.

The acquisition will send Mekanism farther along the road to its eventual destination, Harris says.

“We’re really trying to be long-term brand builders and short-term drivers of business growth. [The Zapiens deal] doesn’t necessarily have huge revenue implications; it’s more about the skillsets and chemistry.”

Marketing clients are caught up in the tension between long- and short-term business goals. “CMOs are under more pressure than ever to show performance

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Marketing Agency

Digital Growth-Marketing Agency Growthcurve Celebrates Record Growth as Client Roster Surpasses $500million In Funding from Investors

Member Article

Independent digital growth-marketing agency Growthcurve is celebrating record growth having helped their clients raise a combined total of over $500 million in venture capital and private equity funding.

The agency which specialises in growth marketing for start-ups and scale-ups has helped clients pass the funding milestone through their unique evidence-based growth marketing.

Led by founder Mulenga Agley, who launched Growthcurve in 2017, the agency is now launching a major recruitment drive with ambitions to more than double in size by the end of 2024.

Agley believes the agency’s success is down to its unique approach to experimentation, real-time feedback loops and its approach to giving clients the ability to scale their team of marketing experts up or down flexibly.

And he is predicting that 2024 is the year that growth marketing firms start to outpace integrated ad agencies in new business wins as clients wake up to the results that can be achieved.

Mulenga Agley, Founder and CEO, Growthcurve, said: “Our pioneering Growth Marketing approach fuses creativity and culture with media and technology to help our clients acquire their ideal customers faster. It’s our job to break new ground, invent new distribution tactics, leverage data more intelligently, and to produce creative work which is impossible to ignore.”

“Through this work our clients are achieving the results they need to attract the external funding for their next stage of growth.”

“The fund-raising environment is always interesting because it shows you what’s coming in the world – based on where money starts to go from venture capital, we can predict which types of companies, disruptive ideas or new technologies will be big in the future.

“We knew well ahead of time that AI was going to experience a serious boom cycle due to a steep rise in AI founders

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Beshara-Kyle Joins 898 Marketing as Digital Growth Manager – Business Journal Daily

Marketing Agency

Beshara-Kyle Joins 898 Marketing as Digital Growth Manager – Business Journal Daily

CANFIELD, Ohio – Sable Beshara-Kyle has been hired as an account and digital growth manager at 898 Marketing.

With 12 years of strategic and digital marketing expertise, Beshara-Kyle joins 898 Marketing from her most recent role as digital growth manager at Optimal Digital Marketing, an out-of-state agency. Prior to that, Beshara-Kyle held marketing positions at the Cafaro Company.

“Sable is a welcomed addition to our team, not only because of the important role she will play in helping our clients and our company continue our collective growth trajectories, but also by bringing an experience that will help make us all better,” says Jeff Ryznar, 898 Marketing owner/president.

Beshara-Kyle is a native of the Mahoning Valley who earned a B.A. degree in economics degree from Miami University. She resides in Hubbard with her husband, Hubbard Mayor Ben Kyle, and their children.

“Joining the 898 Marketing team is an incredible opportunity that aligns with my professional passion for digital innovation and my commitment to creating effective marketing strategies,” Beshara-Kyle says. “What excites me most about this new role is the chance to collaborate with a talented team who shares my values as we work together to drive growth and success for our clients.”

Copyright 2023 The Business Journal, Youngstown, Ohio.

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