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.”
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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.
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.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.