The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Allbirds topped market estimates for quarterly revenue on Wednesday, Feb. 23, on robust demand for its eco-friendly shoes from younger shoppers who are more focused on sustainability.
Consumers returning to pre-pandemic routines after staying at home for months have been splurging on sneakers for running and hiking, driving up sales of shoemakers.
Allbirds, a favourite of Silicon Valley workers, has also benefited from a shift towards environmentally-friendly brands among Gen-Z and millennial shoppers. The shoemaker uses wool and other plant-based alternatives in its products.
The company’s sales rose 23 percent to $97.2 million in the fourth quarter, beating analysts’ estimates of $91.76 million, according to Refinitiv IBES data.
ADVERTISEMENT
By Mehr Bedi; editor: Aditya Soni
Learn more:
Allbirds Won Over Investors. Now What?
The sustainable sneaker company saw shares soar in its debut, but the brand needs to find customers outside its loyal base – and turn a profit while doing it.
Fast-growing start-ups like Hettas, Saysh and Moolah Kicks created sneakers designed specifically for active women. The sportswear giants are watching closely.
The companies agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.
In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.