With their unique chunky sole and often colored straps, it’s hard to mistake a pair of Birkenstocks for anything else. Though unassuming in appearance, the one-time hippie sandals have lately become synonymous with comfortable yet chic footwear, and have found fans among the elite—Apple cofounder Steve Jobs owned a pair of Birks, and his beloved sandals sold for a whopping $218,000 last year. The sandal then achieved more mainstream celebrity status when it featured in the Barbie movie.
Now, the once frumpy anti-brand has made what is arguably the biggest jump in its 250-year history, as its shares began trading Wednesday on the New York Stock Exchange after an IPO that initially valued the company at $8.6 billion.
