Birkenstock went from 1 India store in 2020 to more than 50 today. And that isn’t the victory it looks like.
It’s a distress signal.
Brands don’t walk into India when they’re winning in the West. They walk in when they’ve stopped winning. The Indian premium consumer has quietly become the last chapter in a lot of Western brand stories — and if you squint, you can see the pattern stretching back a decade.
Starbucks arrived here in 2012, seven years after US growth peaked and “mall Starbucks” had become shorthand for corporate blandness. H&M came in 2015, just as “fast fashion” stopped being aspirational in the West and started being a slur. Victoria’s Secret shipped up when American teens had moved on to Skims and Aerie. Uniqlo, Pottery Barn, and Zara’s aggressive Indian expansion — all arrived in the second half of their Western growth story, never the first. The pattern is almost comical once you see it. Brands land here right when their home market stops being easy money.
Birkenstock is textbook. Their stock is down around 20% this year. Their FY26 guidance disappointed Wall Street last month. The Crocs CEO said recently that customers are “migrating back towards athletic.” The New York Times ran a piece calling the potato-shoe era over. The Western ugly-shoe cycle — the one that put Birkenstock on every Brooklyn influencer’s feet for the last five years — is visibly closing.
Meanwhile, Birkenstock India grew 31% last year. APAC is now the company’s fastest-growing segment globally. In their last earnings call, management told investors this growth will “reduce exposure to the US dollar.”
Translation: we need India to save the story.
And we’re showing up right on cue.
Influencers are doing Birkenstock-with-socks posts in 2026, two years after TikTok in New York was already over them. The aunty who called them chappals at a family function in 2019 bought a pair in taupe last month. There’s an Arizona in every third Uber in Bandra. Wedding sangeets now feature cousins sliding into Bostons for the after-party.
They’re good shoes. I’ll say it twice because the comfort is real. That’s not the argument.
The argument is that the story we tell ourselves about “the brand arriving” is backwards. What actually happened is the brand ran out of easy growth somewhere else, and we became the escape valve. We get to feel arrived. They get to extend the runway.
The Indian premium consumer has become a useful last chapter in a lot of these stories. We show up exactly when the West gets bored, which means we’re buying peak narrative the moment it’s losing its edge.
We always run this cycle two beats behind. We were getting into skinny jeans as they were dying. Oat milk landed in Mumbai cafés the same year America started complaining it was everywhere. Athleisure became a serious Indian category after athleisure had been absorbed so completely in the US that nobody called it athleisure anymore. The pattern is consistent enough that you could almost trade on it — if you could stomach buying the thing your rich cousins in Manhattan are quietly moving on from.
The consolation is that we don’t really care about being first. Indians buy brands for what they signal, not what they predict. A Birkenstock in 2026 Bombay says “I’ve made it.” A Birkenstock in 2026 Brooklyn says “I’m still here, for now.” Those are different jobs, and ours is frankly the more fun one.
Being fashion’s last reliable customer is also its own kind of power. The brands know it. That’s why Birkenstock is opening forty new stores globally next year with India as a focus, even as they guide Wall Street to expect slower growth overall. We’re the hedge. The hedge works.
Maybe that’s fine.
Or maybe it just means we’ll spend the next decade wearing what America is quietly taking off.
Just speechless.
Journalist @sharadsharma1 went to a village near Ajnala, Amritsar Sahib, to report on floods. A lady, despite facing hardships due to floods, brought warm milk for the whole team. Her smile (we call it Chardi Kala) was warmer than the milk.
Thank you for covering this Sharad 🙏
#PunjabFloods
Jazbon aur Rangon Se Bhari Iss Vibrant Night Mein Aapka Swagat Hai!✨
Witness an elegant night of honour and celebration at the 69th #HyundaiFilmfareAwards 2024 with #GujaratTourism on 28th January in GIFT City, Gujarat!
Book your tickets now on https://t.co/jLc0jGBQpd for the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January at GIFT City, Gujarat.
@filmfare
Please note that these tickets are non-transferable, and stringent measures will be taken against any individuals found engaging in the unauthorised resale of tickets.
Rangon se bhari hogi Hindi Cinema Ki Blockbuster Celebration Ki Raat, Aapko Aana Hoga Sang To Vibrant Gujarat!✨
Witness a night of unity and honour at the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January in GIFT City, Gujarat!
Book your tickets now on https://t.co/jLc0jGBQpd for the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January at GIFT City, Gujarat.
@filmfare
Please note that these tickets are non-transferable, and stringent measures will be taken against any individuals found engaging in the unauthorised resale of tickets.
Garv Aur Utsah Se Bharpoor Hogi Filmfare Ki Yeh Blockbuster Raat, Aap Aa Rahein Hai Na To Vibrant Gujarat?✨
Witness the pride of Bollywood honouring the finest of Hindi Cinema at the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January in GIFT City, Gujarat!
Book your tickets now on https://t.co/jLc0jGBQpd for the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January at GIFT City, Gujarat.
@filmfare
*Please note that these tickets are non-transferable, and stringent measures will be taken against any individuals found engaging in the unauthorised resale of tickets.*
Culture aur Filmon ka Blockbuster Fusion dekhne aap aa rahein hai na vibrant Gujarat? 🎬
Witness an elegant night of honour and celebration at the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January in GIFT City, Gujarat!
Book your tickets now on https://t.co/jLc0jGBQpd for the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January at GIFT City, Gujarat.
@filmfare
Please note that these tickets are non-transferable, and stringent measures will be taken against any individuals found engaging in the unauthorised resale of tickets.
Garv Aur Utsah Se Bharpoor Hogi Filmfare Ki Yeh Blockbuster Raat, Aap Aa Rahein Hai Na To Vibrant Gujarat?✨
Witness the pride of Bollywood honouring the finest of Hindi Cinema at the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January in GIFT City, Gujarat!
Book your tickets now on https://t.co/XVhgksO7rP for the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January at GIFT City, Gujarat.
*Please note that these tickets are non-transferable, and stringent measures will be taken against any individuals found engaging in the unauthorised resale of tickets.* @Filmfare
Culture aur Filmon ka Blockbuster Fusion dekhne aap aa rahein hai na vibrant Gujarat? 🎬
Witness an elegant night of honour and celebration at the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January in GIFT City, Gujarat!
Book your tickets now on https://t.co/XVhgksNzCh for the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January at GIFT City, Gujarat.
*Please note that these tickets are non-transferable, and stringent measures will be taken against any individuals found engaging in the unauthorised resale of tickets.* @filmfare
Jazbon aur Rangon Se Bhari Iss Vibrant Night Mein Aapka Swagat Hai!✨
Witness an elegant night of honour and celebration at the 69th #HyundaiFilmfareAwards 2024 with #GujaratTourism on 28th January in GIFT City, Gujarat!
Book your tickets now on https://t.co/XVhgksNzCh for the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January at GIFT City, Gujarat.
*Please note that these tickets are non-transferable, and stringent measures will be taken against any individuals found engaging in the unauthorised resale of tickets.* @filmfare
Rangon se bhari hogi Hindi Cinema Ki Blockbuster Celebration Ki Raat, Aapko Aana Hoga Sang To Vibrant Gujarat!✨
Witness a night of unity and honour at the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January in GIFT City, Gujarat!
Book your tickets now on https://t.co/XVhgksO7rP for the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January at GIFT City, Gujarat.
*Please note that these tickets are non-transferable, and stringent measures will be taken against any individuals found engaging in the unauthorised resale of tickets.* @filmfare
Garv Aur Utsah Se Bharpoor Hogi Filmfare Ki Yeh Blockbuster Raat, Aap Aa Rahein Hai Na To Vibrant Gujarat?✨
Witness the pride of Bollywood honouring the finest of Hindi Cinema at the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January in GIFT City, Gujarat!
Book your tickets now on https://t.co/Zfbz6LSPyk for the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January at GIFT City, Gujarat.
*Please note that these tickets are non-transferable, and stringent measures will be taken against any individuals found engaging in the unauthorised resale of tickets.*
@filmfare
Culture aur Filmon ka Blockbuster Fusion dekhne aap aa rahein hai na vibrant Gujarat? 🎬
Witness an elegant night of honour and celebration at the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January in GIFT City, Gujarat!
Book your tickets now on https://t.co/alyn4slUSv for the 69th #HyundaiFilmfareAwards2024 with #GujaratTourism on 28th January at GIFT City, Gujarat.
*Please note that these tickets are non-transferable, and stringent measures will be taken against any individuals found engaging in the unauthorised resale of tickets.* @filmfare
120 Cameras.
225 Crew Members.
800+ Interviews.
75 DOPs.
60 Mic Units.
3 Days of Non-Stop Live Action.
1 Mammoth Project to remember for a lifetime.
Extremely proud and elated to share that MavONE Studios directed, produced and managed an end-to-…https://t.co/IADYMfjIu7
Been noticing an interesting trend recently.
Successful influencers are trying to pivot to entrepreneurship by launching businesses or investing in start ups.
While successful founders are getting into content creation by actively upping their social media game and YouTube presence.
Basically, people who are famous want to get rich, and people who are rich want to get famous.
Fascinating that one group of successful people think money is the answer and the other, equally successful group thinks fame and social clout is the answer.
Just shows that neither is the destination for happiness. We just need to keep ourselves busy by solving intersting problems that distract us from asking ourselves those big existential questions.
Kunal shah said most people don’t make enough money in India.
That made me wonder how are companies and startups making money?
Here's a secret sauce I found out: