Birkenstock set to float on stock market with valuation of nearly $10bn

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German sandal maker has come a long way from its founding in 1774 as a maker of orthopaedic shoes to going public on the NY stock exchange

Birkenstock, the resurgent German sandal maker once beloved by healthcare workers, is set to be valued at up to €9.2bn when it floats on the stock market this month.

Brought to the United States in the 1960s, the sandals were quickly adopted by hippies who took to their no-frills comfort and claimed their utilitarian look as an anti-fashion badge. Actress Frances McDormand padded on stage at the Oscars in February 2019 in a yellow pair – vindicating the idea that footwear does not need to be painful to be glamourous.

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