Sandal Brand Surges After $250 Million Share Buyback Bet

Birkenstock Holding plc (BIRK) closed at $48.75 on the New York Stock Exchange, up 5.5%. Its market capitalization reached roughly $8.965 billion (about KRW 13.6 trillion), with a one-day increase of approximately $522 million (around KRW 800 billion). Trading volume totaled 1.93 million shares.

Recently, the company announced an accelerated share-repurchase program of $250 million (roughly KRW 380 billion) following a share-price adjustment, driving the stock up nearly 17% in a single day while maintaining its annual revenue-growth outlook of 13–15%. Bernstein Société Générale reaffirmed its “Market Perform” rating on BIRK in mid-May with a $50 price target, but noted that second-quarter results may fall short of expectations and warned of rising profitability pressures from tariffs and Middle East risks.

Founded in Germany in 1774, Birkenstock is a sandal and footwear manufacturer best known for its cork-footbed designs, which have become a global fashion icon. After being acquired by L Catterton—an LVMH-affiliated private-equity firm—in 2021, Birkenstock went public on the NYSE in 2023. The IPO valued the company at about $9.2 billion and raised approximately $1.48 billion (around KRW 2.2 trillion).