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- Number of pages : 30 pages
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- Last update : 21/06/2023
Summary and extracts
1 Market overview
1.1 Introduction
The footwear market in Germany is constantly changing. There are many different products, ranging from luxury goods to sports shoes and city shoes. Many criteria determine the category of each new model.
The global footwear market is highly competitive. A wide variety of products are sold, and every consumer can find something to suit his or her needs. Yet some countries dominate shoe production. Three-quarters of the world's footwear comes from countries such as China, India, and Indonesia. This market has been impacted by crises such as COVID-19 (there has been a 10% drop in shoe sales from 2021).
Nevertheless, the German footwear market has been growing strongly overall for several years. This market is no exception : German don't differ from their consuming habits, and that's why they are prepared to buy more expensive products in order to keep them longer. Shoes are no exception. The German brands Adidas and Puma are a real hit in Germany.
Some start-ups are keen to democratize more innovative and durable footwear but are finding it difficult to maintain their guarantee of quality at reasonable prices.
A segment of the German population exclusively consumes very high-end shoes from brands such as Gucci or Balenciaga. But generally speaking, German consumers are not looking for specific brands. Above all, they are looking for quality, which is why companies wishing to enter this market face stiff competition. Technological progress is also a factor for footwear producers since it could simplify production processes and modify the global fragmentation of the footwear value chain.
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Latest news
Birkenstock sandals debut in New York this Wednesday - 11/10/2023
- Birkenstock valuation: $8.6 billion.
- Birkenstock began to be controlled by investment fund L Catterton in 2021.
- L Catterton is associated with LVMH, the world leader in luxury goods.
- Birkenstock was founded in 1774 and is based in Germany.
- Birkenstock's sales grew at an average rate of 20% over the next few years after the arrival of external management in 2013.
Birkenstock intends to raise up to $1.58 billion for its IPO - 03/10/2023
- Birkenstock is headquartered in Linz am Rhein, Germany.
- Birkenstock was founded in 1774 and began selling sandals in 1963.
- The company was valued at around 4 billion euros in 2021 following the acquisition of a majority stake by investment company L Catterton.
- Birkenstock employs around 6,200 people and produces its shoes in Germany.
Birkenstock sandals take their place on Wall Street - 17/09/2023
- Birkenstock is targeting a valuation of $8 billion for its initial public offering on the New York Stock Exchange.
- This valuation is twice as high as two years ago.
- The company is majority-owned by private equity firm L Catterton.
- Christian Birkenstock, one of the two direct heirs, holds 12% of the shares.
- The company's sales have quadrupled over the past eight years, rising from 292 million euros in 2014 to 1.2 billion in 2022.
- Birkenstock made a net profit of 187 million euros in its last financial year, ending September 2022.
- The company produces around 30 million pairs of shoes a year.
- More than half of its customers (54%) are in the USA, compared with 36% in Europe.
- The company plans to inaugurate its largest factory in Germany in December.
Birkenstock and its Boston clogs take luxury up a notch - 30/05/2023
- New Birkenstock factory to open in Pasewalk, near the Polish border.
- The new factory will employ around 1,000 people.
- 50% of Boston clog orders will not be filled this year.
- The Group employs a total of 5,500 people.
- 38 subsidiaries
- 55 directly-operated boutiques
- Two Dior models for 960 euros.
- L Catterton (LVMH and Financière Agache) acquired Birkenstock for around 4 billion euros.
- Sales forecast for 2022: over 750 million euros.
- Annual production: 30 million pairs
- Number of factories in Germany: 5.
Birkenstock and its Boston clogs take luxury up a notch - 07/04/2023
- the group has 5,500 employees.
- The company has 38 subsidiaries.
- The company has taken over distribution with 55 of its own boutiques.
- The subsidiary 1774 was launched to market collections in collaboration with fashion designers.
- The German company has been owned for two years by L Catterton (a fund owned by LVMH and the Arnault family's Financière Agache)
- Sales forecast for 2022: over 750 million euros
- 30 million pairs manufactured per year. 5 factories in Germany.
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The footwear market | Germany
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