Birkenstock the latest shoe IPO to drop in a tough market

Sandal company Birkenstock needs to sell more clogs and boots and boost sales from its own website and boutiques to attract new shoppers amid a cost of living crisis, investors and analysts said before it lists on the New York Stock Exchange next week. Birkenstock is the latest high-profile listing to put investor focus on the initial public offering (IPO) market, which is gradually reopening after two relatively quiet years and a burst of activity in September. And a cost of living crisis – which has seen consumers rein in spending on discretionary items like shoes and clothing in favor of essentials – could be a challenge for the premium footwear company.