Allbirds

Last updated

Allbirds, Inc.
Type Public
Nasdaq:  BIRD (Class A)
IndustryFootwear
Founded2016;7 years ago (2016)
Founders
Headquarters San Francisco, California, US
Number of locations
58 (2022)
RevenueIncrease2.svg US$298 million (2022)
Decrease2.svgUS$−100 million (2022)
Decrease2.svgUS$−101 million (2022)
Total assets Decrease2.svgUS$462 million (2022)
Total equity Decrease2.svgUS$317 million (2022)
Number of employees
c. 1,000 (2022)
Website allbirds.com
Footnotes /references
[1]

Allbirds, Inc. is a New Zealand and American company that sells footwear and apparel. [2] The company claims to keep its products as eco-friendly as possible and is a certified B Corporation. [3] [4] [5] Allbirds uses a direct-to-consumer model in conjunction with distribution via select additional stores, selling its products through its website and retail stores in addition to select Nordstrom and Dick's Sporting Goods locations. [6] [7]

Contents

History

US Congressman Jared Huffman speaking at Allbirds in San Francisco in 2020 Jared Huffman at Allbirds 01.jpg
US Congressman Jared Huffman speaking at Allbirds in San Francisco in 2020

Allbirds co-founder Tim Brown got the idea for the company while he was vice captain of the New Zealand football team. [8] He had previously attended business school and used to make leather shoes for friends but was aware of how uncomfortable they were. [9] In 2014, he received a research grant from the New Zealand wool industry to engineer a sneaker. He then launched his idea on Kickstarter, raising US$119,000 in five days. [10] [2] After launching on Kickstarter, Brown teamed up with Joey Zwillinger, a biotech engineer and renewable materials expert. They began developing their process and officially launched Allbirds in March 2016. [11] [10] The name Allbirds is a reference to New Zealand having almost no native land mammals, being a land of "all birds". [12]

During their first year in business, the company raised US$7.25 million from investors including Maveron, Lerer Hippeau Ventures and other firms. [13] [4] In December 2017, Allbirds sued Steve Madden, alleging that the company's Traveler shoes look nearly identical to its Wool Runners. [14]

As of 2017, the company had 50 employees in their headquarters in San Francisco, US; 40 employees at its warehouse in Nashville, US; and 350 contractors in a factory in South Korea. [9] In the end of 2017 the company launched in Australia. [15] In October 2018, the company raised US$50 million in Series C funding, bringing its total valuation to US$1.4 billion. [16] The company went public on the Nasdaq on 3 November 2021 under the ticker symbol BIRD. [17]

Products

The company launched with one product, the Wool Runners casual sneakers. [18] The company has since expanded to offer other footwear, including running shoes and flip flops as well as apparel. [19] [20]

In 2018, New Zealand Prime Minister Jacinda Ardern gifted Australian Prime Minister Malcolm Turnbull a pair of Allbirds sneakers during a state visit to Australia. [21]

Allbirds has collaborated with other brands to produce limited edition products, including Outdoor Voices and Nordstrom. [22] [23] In May 2020, Allbirds announced a partnership with Adidas. [24]


See also

Related Research Articles

<span class="mw-page-title-main">Converse (brand)</span> American lifestyle brand owned by Nike, Inc

Converse is an American lifestyle brand that markets, distributes, and licenses footwear, apparel, and accessories. Founded by Marquis Mills Converse in 1908 as the Converse Rubber Shoe Company in Malden, Massachusetts, it has been acquired by several companies before becoming a subsidiary of Nike, Inc. in 2003.

<span class="mw-page-title-main">Adidas</span> German multinational clothing and apparel corporation

Adidas AG is a German athletic apparel and footwear corporation headquartered in Herzogenaurach, Bavaria, Germany. It is the largest sportswear manufacturer in Europe, and the second largest in the world, after Nike. It is the holding company for the Adidas Group, which also owns an 8.33% stake of the football club Bayern München, and Runtastic, an Austrian fitness technology company. Adidas's revenue for 2018 was listed at €21.915 billion.

<span class="mw-page-title-main">Sneakers</span> Sport and casual shoes

Sneakers (US) or trainers (UK), also known by a wide variety of other names, are shoes primarily designed for sports or other forms of physical exercise but which are also widely used for everyday casual wear.

<span class="mw-page-title-main">Deckers Brands</span> Consumer retail company

Deckers Outdoor Corporation, doing business as Deckers Brands, is a footwear designer and distributor based in Goleta, California, United States. It was founded in 1973 by University of California, Santa Barbara alumni Doug Otto and Karl F. Lopker. In 1975, the company was incorporated in California under the name Deckers Corporation. In October 1993, Deckers initiated a public offering of stock in its company. Deckers' portfolio of brands includes UGG, Teva, Sanuk, Hoka One One and Koolaburra.

Brooks Sports, Inc., also known as Brooks Running, is an American sports equipment company that designs and markets high-performance men's and women's sneakers, clothing, and accessories. Headquartered in Seattle, Washington, Brooks products are available in 60 countries worldwide. It is a subsidiary of Berkshire Hathaway.

Birkenstock Group B.V. & Co. KG is a German shoe manufacturer known for its sandals and other shoes notable for contoured cork footbeds (soles) made with layers of suede and jute, which conform to the shape of their wearers' feet. Founded in 1774 by Johann Adam Birkenstock and headquartered in Neustadt (Wied), Rhineland-Palatinate, Germany, the company's original purpose was to create shoes that support and contour the foot, compared to the flat soles of many shoes during that time. In 1896 the Fussbett (footbed) was designed, and by 1925, Birkenstocks were sold all over Europe.

Payless is an international discount footwear chain. Established in 1956 by cousins Louis and Shaol Pozez, Payless was a privately held company owned by Blum Capital, and Golden Gate Capital. In 1961, it became a public company as the Volume Shoe Corporation which merged with The May Department Stores Company in 1979. In the 1980s, Payless was widely known in the U.S. for its Pro Wings line of discount sneakers, which often had Velcro straps instead of laces. In 1996, Payless became an independent publicly held company. In 2004, Payless announced it would exit the Parade chain and would close 100 Payless Shoe outlets. On August 17, 2007, the company acquired the Stride Rite Corporation and changed its name to Collective Brands, Inc. The company had a total revenue for 2011 of US$ 3.4 billion. The company also has a stunt premium banner, Palessi Shoes. Payless is currently owned by a group of investors led by Alden Global Capital and Axar Capital Management.

<span class="mw-page-title-main">K-Swiss</span> American footwear company

K-Swiss, Inc. is an American athletic shoe brand based in Downtown Los Angeles. It was founded in 1966 and is currently owned by Chinese sports equipment manufacturing company Xtep.

Streetwear is a style of casual clothing which became global in the 1990s. It grew from New York hip hop fashion and Californian surf culture to encompass elements of sportswear, punk, skateboarding, 1980s nostalgia, and Japanese street fashion. Later, haute couture became an influence, and was in turn influenced by streetwear. Streetwear centers on comfortable clothing and accessories such as jeans, T-shirts, baseball caps, and sneakers. Brands may create exclusivity through intentional product scarcity; enthusiasts follow particular brands and try to obtain limited edition releases, including via proxy purchases.

<span class="mw-page-title-main">New Balance</span> American footwear manufacturer

New Balance Athletics, Inc. (NB), best known as simply New Balance, is one of the world's major sports footwear and apparel manufacturers. Based in Boston, Massachusetts, the multinational corporation was founded in 1906 as the New Balance Arch Support Company.

<span class="mw-page-title-main">LA Gear</span> American shoe company based in California

LA Gear is an American shoe company based in Los Angeles, California. Founded in 1983 and is currently part of Frasers Group brands.

<span class="mw-page-title-main">Veja Sneakers</span> French footwear and accessories brand

Veja is a French footwear and accessories brand founded in 2004. Veja's products are made with organic cotton and recycled plastic bottles.

<span class="mw-page-title-main">Reebok</span> Footwear and clothing company

Reebok International Limited is an American fitness footwear and clothing brand that is a part of Authentic Brands Group. It was established in England in 1958 as a companion company to J.W. Foster and Sons, a sporting goods company which had been founded in 1895 in Bolton, Lancashire. From 1958 until 1986, the brand featured the flag of the United Kingdom in its logo to signify the origins of the company. It was bought by German sporting goods company Adidas in 2005, then sold to the United States-based Authentic Brands Group in 2021. The company's global headquarters are located in Boston, Massachusetts, in the Seaport District.

<span class="mw-page-title-main">Nike, Inc.</span> American athletic equipment company

Nike, Inc. is an American athletic footwear and apparel corporation headquartered near Beaverton, Oregon, United States. It is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$46 billion in its fiscal year 2022.

Adidas Yeezy was a fashion collaboration between American rapper, designer, and entrepreneur Kanye West and German sportswear company Adidas. It offered sneakers in limited edition colorways, as well as shirts, jackets, track pants, socks, slides, lingerie and slippers. The first shoe model was released in February 2015. In 2020 Forbes described Yeezy's rise as "one of the great retail stories of the century". Yeezy influenced and inspired a multitude of other fashion brands. Outside of the former Adidas collaboration, Yeezy is the name of Kanye's company Yeezy LLC and is not connected to Adidas.

Rothy's is an American direct-to-consumer company which designs and sells shoes and accessories. Rothy's was initially founded in 2012 and launched in 2016 by Stephen Hawthornthwaite and Roth Martin as a women's shoe company in San Francisco. It has since expanded with handbags and a men's line.

<span class="mw-page-title-main">On (company)</span> Swiss athletic shoe and performance sportswear company

On is an athletic shoe and performance sportswear company originating in Switzerland that designs and markets sports clothing and running shoes.

Overland Footwear Group is a New Zealand and Australian footwear and fashion retail company. It operates the Merchant 1948 and Mi Piaci retail chains in both countries and produces its own footwear lines.

Accent Group is an Australian and New Zealand footwear and clothing retail, wholesaling and distribution company. It has more than 700 retail stores, along with 19 brands, and more than 20 online platforms.

<span class="mw-page-title-main">Alpargatas S.A.</span>

Alpargatas S.A. is a Brazilian manufacturing company headquartered in São Paulo. Established in 1907, it is of the largest Brazilian companies in the footwears and canvass business.

References

  1. ↑ "Allbirds, Inc. 2022 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 10 March 2023.
  2. 1 2 "The World's Most Comfortable Shoes Are Made of Super-Soft Wool". Time . Retrieved 7 February 2017.
  3. ↑ Marikar, Sheila (September 21, 2020). "Allbirds is stepping up for the planet—by treading lightly on it". Fortune . Archived from the original on October 11, 2020. Retrieved October 11, 2020.
  4. 1 2 Findling, Deborah (1 January 2017). "This eco-friendly sneaker is attracting celebrities without the benefit of a big brand name". CNBC . Retrieved 7 February 2017.
  5. ↑ "These Sneakers Are Affordable, Sustainable, and Genuinely Stylish". Esquire . 2 March 2017. Retrieved 30 March 2017.
  6. ↑ "Can Allbirds Live Up to Its $1 Billion Valuation?". Bloomberg News . 19 February 2021. Retrieved 15 April 2021.
  7. ↑ Thomas, Lauren. "Allbirds to start selling its shoes in select Nordstrom department stores". CNBC. Retrieved 13 December 2022.
  8. ↑ "We tried 'the world's most comfortable shoes' to see if they're as great as everyone says they are". Business Insider. Retrieved 3 November 2017.
  9. 1 2 Bowles, Nellie (11 August 2017). "To Fit Into Silicon Valley, Wear These Wool Shoes". The New York Times . ISSN   0362-4331 . Retrieved 19 October 2017.
  10. 1 2 "Allbirds is Shaking Up the Sneaker Market With a Pair of Wool Shoes". Observer . 19 April 2016. Retrieved 7 February 2017.
  11. ↑ Coscarelli, Alyssa (27 December 2016). "The Comfiest Sneakers Ever Aren't What You'd Expect". Refinery29 . Retrieved 7 February 2017.
  12. ↑ Huddleston, Tom Jr. (18 December 2018). "How Allbirds went from Silicon Valley fashion staple to a $1.4 billion sneaker start-up". CNBC. Retrieved 1 February 2021.
  13. ↑ Roof, Katie (7 September 2016). "Allbirds raises $7.25 million, unveils new shoe colors". TechCrunch . Retrieved 7 February 2017.
  14. ↑ Spellings, Sarah (13 December 2017). "Steve Madden Sued by Sustainable Start-up". The Cut . Retrieved 5 August 2018.
  15. ↑ Farra, Emily. "Allbirds expands to Australia, eyes further global markets for 2018". nzherald. Retrieved 22 December 2017.
  16. ↑ Copeland, Rob (11 October 2018). "Trendy Sneaker Startup Allbirds Laces Up $1.4 Billion Valuation". Wall Street Journal. ISSN   0099-9660 . Retrieved 16 October 2018.
  17. ↑ Thomas, Lauren (25 October 2021). "Allbirds targets a more than $2 billion valuation in upcoming IPO". CNBC. Retrieved 26 October 2021.
  18. ↑ Vella, Matt (1 March 2016). "The World's Most Comfortable Shoes Are Made of Super-Soft Wool". Time. Retrieved 4 December 2020.
  19. ↑ LeSavage, Halie (1 August 2018). "Allbirds Just Released Its First Sandals". Glamour. Glamour. Retrieved 4 December 2020.
  20. ↑ Verry, Peter (28 April 2020). "Allbirds Is Now Making Running Shoes". Footwear News. Footwear News. Retrieved 4 December 2020.
  21. ↑ "PM Ardern gifts Turnbull family 'All Birds'". NZ Herald. 31 May 2023. Retrieved 31 May 2023.
  22. ↑ Cleary, Alison Syrett (16 November 2017). "This Allbirds x Outdoor Voices Collab is a Match Made in Athleisure Heaven". InStyle . Retrieved 9 June 2018.
  23. ↑ Phillips, Kami (12 April 2018). "Nordstrom Now Sells Allbirds, the Cute and Comfy Sneakers Hilary Duff and More Celebs Love". People . Retrieved 9 June 2018.
  24. ↑ Farra, Emily (28 May 2020). "Adidas and Allbirds Are Joining Forces—And Rewriting the Rules of Competition". Vogue. Retrieved 19 October 2020.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.