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.
The direct-to-consumer footwear brand announced on Monday that it will offer 19.2 million shares priced between $12 and $14 per share. Allbirds could raise up to $269 million in filing for its initial public offering, reports Footwear News.
Allbirds — a certified B Corp. — has won customers globally with sustainability as a core tenet of the brand. “We have methodically built the foundation for our business to ensure that our customers do not have to compromise between looking good, feeling good, and doing good for the planet,” the company’s IPO filing reads.
Since launching in 2016 with a $95 sneaker made from merino wool, the digital-native company has been a standout in the first generation of direct-to-consumer brands, a group that includes Warby Parker and Everlane.
The footwear company is yet to turn a profit, with its filing noting that the company has “incurred significant net losses since inception” and anticipates that it “will continue to incur losses for the foreseeable future.”
ADVERTISEMENT
Allbirds is expected to file for an IPO in New York in late 2021.
Learn more:
Warby Parker, Allbirds and Why DTC Brands Still Can’t Scale Profitably
The two companies’ recent IPO filings revealed growing sales and growing losses. These digital innovators now see stores and other old-school retail strategies as the key to success.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.