Birkenstock (BIRK) Goldman Sachs 31st Annual Global Retailing Conference summary

Business performance and growth

• Achieved record quarterly growth of 19% globally, with double-digit increases across all regions and segments.

• U.S. growth driven by strong B2B performance and high consumer loyalty, with the average U.S. customer owning 3.8 pairs.

• Membership on the brand's website grew 30% last quarter, with members spending 25% more per order and showing 50% higher engagement.

• Expansion plans include increasing retail stores from 60+ to 150 globally, with recent openings in Paris and Austin.

• Closed-toe shoes now represent over 30% of the product mix, growing at twice the rate of sandals.

Consumer behavior and market trends

• U.S. consumers are resilient but more intentional, prioritizing desired purchases despite broader market challenges.

• Contrary to expectations, consumers are trading up to higher-priced leather products, not trading down.

• Return to physical retail is evident, with in-store growth outpacing online by three times for the brand.

• Younger demographics are embracing the brand, often viewing it as a premium investment.

Pricing, value, and promotional strategy

• Average selling price is up in all channels, with premium products leading growth.

• Maintains over 95% full-price realization in the U.S., with minimal promotional activity.

• Value is seen as relative; scarcity and product relevance drive urgency and full-price sales.