250yearold company to list in New York next week
Sandal maker has broadened range to clogs and boots
Company backed by LVMHaffiliated private equity firm

Oct 5 Reuters 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 highprofile 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.

But several companies including Arm , Instacart, and Kellogg spinoff Kellanova that have gone public recently have seen their share prices slump.

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.

Due to recent price hikes, worldwide footwear sales are expected to rise just 2.9 over 2022, according to market research firm Euromonitor International.

The question is, how do you create desirability for people to buy another pair of Birkenstocks? said Mamta Valechha, consumer discretionary analyst at asset manager Quilter Cheviot in London. Sandals are a seasonal product, which makes the company39;s sales volatile over the year, Valechha added.

Still, Birkenstock has much else going for it including…