Allbirds

Allbirds, Inc. is a New Zealand-American company that sells footwear and apparel.[2] Allbirds' first shoe was the Wool Runner, which is made from New Zealand superfine Merino wool.[3] The company claims to keep its products as eco-friendly as possible and is a certified B Corporation.[4][5] Allbirds uses a direct-to-consumer model, selling its products exclusively through its website and retail stores, in order to avoid the low margins commonly-associated with the wholesale selling model.[6]

Allbirds, Inc.
TypePublic
Nasdaq: BIRD (Class A)
IndustryFootwear
Founded2016 (2016)
Founders
HeadquartersSan Francisco, California
Number of locations
35 (December 2021)[1]
Revenue US$277.5 million (2021)[1]
Number of employees
710 (December 2021)[1]
Websiteallbirds.com

History
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.[7] He had previously attended business school and used to make leather shoes for friends but was aware of how uncomfortable they were.[3] 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.[8][2] After launching on Kickstarter, Brown teamed up with Joey Zwillinger, a biotech engineer and renewable materials expert.[8] They began developing their process and officially launched Allbirds in March 2016.[9][8] The name Allbirds is a reference to the fact that New Zealand has almost no native land mammals. It is a land of "all birds".[10]

During their first year in business, the company raised $7.25 million from investors including Maveron, Lerer Hippeau Ventures, and other firms.[11][4] In December 2017, Allbirds sued Steve Madden, alleging that the company's Traveler shoes look nearly identical to its Wool Runners.[12]

As of 2017, the company had 50 employees in their San Francisco headquarters, 40 employees at its Nashville warehouse and 350 contractors in a factory in South Korea.[3] In the end of 2017 the company officially launched in Australia.[13]

In May 2020, Allbirds announced a partnership with Adidas.[14]

In October 2018, the company raised $50 million in Series C funding, bringing its total valuation to $1.4 billion.[15] The company went public on the Nasdaq on November 3, 2021 under the ticker symbol BIRD.[16]

In 2021 Allbirds announced their newest product, a trail running shoe.[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]

Allbirds has collaborated with other brands to produce limited edition products, including Outdoor Voices and Nordstrom.[21][22]

Retail

As of January 2021, Allbirds has retail stores in countries including New Zealand, the United States, China and elsewhere.[23]

Further reading
  • 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.

References
  1. "Allbirds, Inc. 2021 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 16 March 2022.
  2. "The World's Most Comfortable Shoes Are Made of Super-Soft Wool". Time. Retrieved 7 February 2017.
  3. 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.
  4. 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.com. 19 February 2021. Retrieved 15 April 2021.
  7. "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.
  8. "Allbirds is Shaking Up the Sneaker Market With a Pair of Wool Shoes". Observer. 19 April 2016. Retrieved 7 February 2017.
  9. Coscarelli, Alyssa (27 December 2016). "The Comfiest Sneakers Ever Aren't What You'd Expect". Refinery29. Retrieved 7 February 2017.
  10. Jr, Tom Huddleston (18 December 2018). "How Allbirds went from Silicon Valley fashion staple to a $1.4 billion sneaker start-up". CNBC. Retrieved 1 February 2021.
  11. Roof, Katie. "Allbirds raises $7.25 million, unveils new shoe colors". TechCrunch. Retrieved 7 February 2017.
  12. Spellings, Sarah (13 December 2017). "Steve Madden Sued by Sustainable Start-up". The Cut. Retrieved 5 August 2018.
  13. Farra, Emily. "Allbirds expands to Australia, eyes further global markets for 2018". nzherald. Retrieved 22 December 2017.
  14. Farra, Emily. "Adidas and Allbirds Are Joining Forces—And Rewriting the Rules of Competition". Vogue. Retrieved 19 October 2020.
  15. 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.
  16. Thomas, Lauren (25 October 2021). "Allbirds targets a more than $2 billion valuation in upcoming IPO". CNBC. Retrieved 26 October 2021.
  17. Magaldi, Kristin (14 October 2021). "Allbirds' new Trail Runner SWT sneakers are perfect for hikers and trail runners". CNN Underscored. Retrieved 12 November 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. Cleary, Alison Syrett (16 November 2017). "This Allbirds x Outdoor Voices Collab is a Match Made in Athleisure Heaven". InStyle. Retrieved 9 June 2018.
  22. 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.
  23. "Allbirds Stores – Come Try Us On For Size". Allbirds. Retrieved 15 March 2019.
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