Birkenstock Profits Soar as Gen Z ‘Ugly Shoe Trend’ Continues

German sandal maker Birkenstock reported higher sales and profits as the “ugly” clogs proved a hit with shoppers.

Sales rose 21 per cent to £1.5bn in the year to September 30 and profits more than doubled to £159m.

The business was boosted by strong demand for closed-toe shoes. Celebrity fans of the £150 suede ‘Boston’ shoes include Kendall Jenner and Katie Holmes.

This follows high demand for its sandals which appeared in the 2023 Barbie movie starring Margot Robbie.

“Barbie’s momentum may have dissipated, but with a long list of A-list celebrities stepping out in Birkenstocks, fans are snapping up pairs,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

The popularity of clogs has been fueled by an “ugly shoe trend” that “shows few signs of fading” among Gen Z shoppers, he added.

This is the 250-year-old shoemaker’s first full financial year as a public company.

It was listed on the New York Stock Exchange with a valuation of £7 billion.

Shares rose nearly 5 percent yesterday, adding to gains of nearly two-thirds since October 2023.

CEO Oliver Reichert said: “I am proud to report very strong results in 2024.”

By going public, it pledged to boost profits in underdeveloped categories, including closed-toe and orthopedic shoes.

Birkenstock is majority owned by private equity firm L Catterton, which is backed by Dior owner LVMH.