We see ourselves as the oldest start-up on earth.CEO of Birkenstock Oliver Reichert on the shoemaker becoming a publicly-traded company.
Why It Matters: A family company for most of its nearly 250-year history, Birkenstock will now become a public company – meaning it will offer shares or stock available for purchase in the stock market. Come October (the estimated timeline), you may be able to own stock in Birkenstock, investing in the company and earning/losing money depending on its success.
Companies often "go public" as a way to raise money – using money invested to have access to "capital" to grow or support a business.
Birkenstock dates back to in 1774, starting with a cobbler named Johann Adam Birkenstock who lived in Germany.
The shoes first appeared in the United States in 1966 and quickly became part of a generation's wardrobe.
P.S. One of the top songs in 1966? The Mamas & The Papas "California Dreamin'."
by Jenna Lee,