Allbirds’ retail portfolio keeps growing as the company prepares to go public.
The eco-friendly, digitally native footwear brand, which is valued at $1.7 billion and filed for an initial public offering on August 31 with plans to list on Nasdaq under the ticker symbol BIRD, has opened a store at Ponce City Market in Atlanta. It’s the brand’s first location in the Atlanta area and 30th globally, with locations open across North America, Asia and Europe.
In September 2019, Allbirds announced a $100 million Series E funding round. The company said it would use the new capital to enter new product categories and fund the expansion of its international business and brick-and-mortar stores. Earlier this month, Allbirds debuted its first-ever activewear collection. (It first entered the apparel category in 2019 with a very limited assortment ).
The 3,000-sq.-ft. Atlanta outpost reflects Allbird’s sustainable focus, which has driven its use of natural materials in its products in place of petroleum-based synthetic fibers. The space features displays that call attention to the merino wool, sugarcane, eucalyptus tree fibers and other materials that are used to make the company’s products.
The store design also evokes the natural world with custom wood try-on chairs and displays, and “uniquely shaped” mirrors. The carbon footprint of each product is clearly displayed – a first for the fashion and footwear industry, according to the company, and a hallmark of Allbirds’s approach to sustainability.
Sustainability is key to the Allbirds brand, a point that was emphasized in the company’s announcement last year of the new funding.
“Business can be a force for positive change, and this additional capital will allow us to further our mission of bringing more sustainable products to people around the world,” said Allbirds co-CEO Joey Zwillinger. “We have seen the power of collective action in response to the global pandemic and, as we continue to grow, we will push for a similar united response to another universal threat: climate change.”
In 2019, Allbirds became 100% carbon neutral through a self-imposed carbon tax, and in 2020, the brand began labeling all products with a carbon footprint.
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