Allbirds Sold for $39 Million, Dissolving After $4 Billion Valuation Drop
Once-hyped sustainable trainer brand Allbirds, previously valued at over $4 billion, has been sold to American Exchange Group for a mere $39 million and is dissolving, marking a significant decline from its former status.
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‘From high flyer to dead parrot’: former billion-dollar eco-shoe brand Allbirds sold for $39m
Once-hyped, celebrity-backed company snapped up by American Exchange Group for fraction of former value Business live – latest updates Allbirds, the San Francisco sustainable trainer brand once valued at more than $4bn, is being sold for just $39m after global demand for its wool-based footwear failed to materialise. American Exchange Group, the owner of a string of brands including the fashion label Ed Hardy and the accessories maker Born, is snapping up the struggling company once touted ...
By Sarah Butler
Read full article →Allbirds Is Done: A $4 Billion Brand Sells for $39 Million and Dissolves
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