Birkenstock reported a record €565m revenue for Q3 2024, driven by strong sales in Europe and Asia.
- Net profit increased by 18% to €74.6m year-on-year, showcasing robust financial health.
- Regional growth was highlighted by a 41% surge in the Asia Pacific, Middle East, and Africa.
- Wholesale revenues climbed by 23%, while direct-to-consumer sales rose by 14%.
- Demand for closed-toe mules was notably strong, exceeding average brand sales.
In the third quarter ending 30 June 2024, Birkenstock achieved a significant increase in its revenue, reporting a record €565 million. This accomplishment reflects a 19% rise compared to the previous year, driven primarily by the heightened demand for its products in European and Asian markets.
The company’s net profit also witnessed a substantial uplift, soaring by 18% year-on-year to reach €74.6 million. As Birkenstock marks its 250th anniversary, this financial performance underscores the enduring appeal and resilience of the brand in a competitive market landscape.
Growth in regional markets was a standout factor, with the Asia Pacific, Middle East, and Africa (APMA) region leading the charge with a remarkable 41% increase. European revenues climbed by 19%, while the Americas saw a 15% uptick, indicating strong global demand.
Birkenstock’s wholesale business was a major contributor to this growth, with revenues increasing by 23% year-on-year. Meanwhile, the company’s direct-to-consumer (DTC) segment also performed well, rising by 14% as seven new retail stores were opened, bringing the total to 64.
Particularly noteworthy was the strong consumer interest in Birkenstock’s closed-toe mule silhouettes, whose sales exceeded twice the brand’s average sales growth during this period. CEO Oliver Reichert attributed these results to the company’s robust business model and effective distribution strategy, stating that the brand continues to align with consumer shopping patterns while maintaining disciplined engineering distribution principles.
Birkenstock’s third-quarter results highlight its successful alignment with consumer demand and its effective growth strategy.
