Analysts at Jefferies have identified multiple avenues for growth at Birkenstock following a visit to the company’s New York City store, citing sustained demand for core products and an expanding retail footprint.
The Arizona sandal remains a cornerstone of the product lineup, occupying prominent floor space and available in a range of materials, colors, and price points. Closed-toe styles such as the Boston, Naples, and Utti have also gained visibility, supported by seasonal material updates and new colorways. Jefferies noted that direct-to-consumer sales now exceed business-to-business transactions for the first time in two years, a shift attributed to retail store expansion and improving digital conversion rates.
The firm expects Birkenstock to maintain double-digit revenue growth while preserving cash flow generation. EBITDA margins are projected to remain above 30%, reflecting the company’s pricing power and operational efficiency. Jefferies characterized the risk-reward profile as favorable, underscoring the brand’s resilience amid shifting consumer preferences.
