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From shoe company to AI: Allbirds' stock surge loses steam

The stock market surge of the former shoe company Allbirds, following its surprising pivot to the artificial intelligence (AI) business, is losing steam. The stock fell by more than 35 percent on Thursday after its price had previously increased approximately sevenfold. Allbirds was once a popular shoe brand, particularly in tech circles, which...

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Business

Allbirds secures final dismissal in long-running securities fraud battle

On February 26, Allbirds Inc. secured a definitive victory. A federal court in California dismissed a shareholder lawsuit accusing the company and its executives of financial fraud in connection with its November 2021 IPO and subsequent public statements. The court denied the plaintiffs another chance to amend their complaint. The ruling, as...

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Business

Over 1 billion dollars - that’s how much sneaker companies raised in 2021

The figures speak for themselves - the sneaker business is still booming. More than 1.5 billion US-dollars were raised by sneaker companies this year. The green sneaker label Allbirds is just the latest example. So who are the other companies that have benefited from fresh funding? 4 million The sneaker investment app Rares is based on an idea...

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Business

Allbirds reportedly files confidentially for IPO

Sustainable footwear and apparel brand Allbirds could be the latest company to join the red-hot IPO market. The San Francisco-based company, which last year was rumoured to be in talks with banks over a potential flotation, has reportedly filed for a confidential IPO, WWD reports, citing top financial and industry sources. The company, which...

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Fashion

Adidas unveils low-carbon shoe collaboration with Allbirds

Rival sportswear brands Adidas and Allbirds have unveiled the first product from their collaboration, Futurecraft.Footprint - a low carbon running shoe. The sportswear companies have partnered up and shared proprietary technologies and material innovations, as part of both companies goals to reimagine a lower-emission design process and make a...

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Fashion

Allbirds releases open source carbon footprint calculator

Allbirds has released an open-source tool for fashion brands to calculate their carbon footprint. In a statement on its website the San Francisco-based footwear B Corp said it is aware “sharing proprietary information might not make the most business sense. But the global climate crisis is bigger than business. And if competition got us into...

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Business

Allbirds invests in material innovation firm, reveals ‘Plant Leather’

Sustainable footwear and apparel brand Allbirds has added a new 100 percent natural plant-based leather alternative to its line-up of open-source eco-materials. The San Francisco-based company said Thursday it has invested 2 million dollars in material innovation firm Natural Fiber Welding and its Mirum technology to create the new product,...

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Fashion

5 brands boycotting Black Friday for good causes

For some brands and retailers, Black Friday is all about slashing prices and offering major discounts, for 2020, several brands are protesting the annual discounting event in favour of charity drives. Black Friday 2020 this year falls on November 27 and, while for some brands it offers an opportunity to capture that much-needed consumer spend to...

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Retail

Allbirds to raise prices on Black Friday instead of discounting

As retailers begin to announce plans for Black Friday or Cyber Monday sales, Allbirds has said that it will actually raise its prices on November 27. The sustainable footwear company is taking a stand against what it calls "a frenzied day of discounts and buyers’ remorse" to support the environment. Allbirds will raise all prices across its...

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Fashion |IN-PICTURES

Sustainable brand Allbirds launches first apparel collection

San Francisco-based sustainable brand Allbirds has announced the launch of its first apparel collection. The brand, which until now has been known for its sneakers made from natural and recycled materials as well as a range of socks and underwear launched earlier this year, is now selling its debut apparel collection comprising a t-shirt, wool...

Retail

Allbirds lands in Korea

San Francisco-based sustainable footwear and apparel brand Allbirds has launched in Korea. “As we continue to expand our international footprint, we’re excited to finally enter the Korean market and connect with our existing community here, further establishing Allbirds as an important sustainable fashion player in Asia,” Sandeep Verma, the...

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Fashion

Allbirds expands into underwear

Sustainable footwear and accessories brand Allbirds is launching its first underwear range. The collection, which comprises boxer briefs, shorties, thongs and bralettes, is made from the brand’s propriety yarn Trino TM, a blend of responsibly sourced eucalyptus tree fibres, ZQ-certified Merino wool and elastane. The waistband is made from...