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Bloomberg Businessweek
Birkenstock Convinces Investors That It’s Really a Luxury Brand
Jun 5, 2024
47:07
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Bloomberg News European Healthcare and Consumer Reporter Tim Loh discusses how Birkenstock evolved into a luxury brand, Mark Gurman shares Apple's AI plans, Sarah McBride talks about David Sacks and Trump, Crawford Del Prete covers Nvidia's milestone, and Vance Howard wraps up the podcast with market insights.
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Quick takeaways
- Birkenstock shifted from 'ugly shoe' to luxury brand through strategic leadership and family dynamics.
- Oliver Reichart's CEO journey reshaped Birkenstock by resolving family conflicts and driving explosive growth.
Deep dives
Birkenstock: A Legacy of Success and Strategic Leadership
Birkenstock, a brand known for its enduring popularity as an 'ugly shoe,' has a remarkable 250-year history marked by ups and downs, culminating in an IPO last fall that turned the seventh-generation Birkenstock brothers into billionaires. Oliver Reichart, not a Birkenstock himself, played a pivotal role in the recent growth of the company. As a former journalist turned CEO, Reichart navigated the family dynamics within Birkenstock and steered it towards a fivefold growth since 2013, with a 20% annual sales growth rate. His strategic leadership and strong personality reshaped the company's trajectory.
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