Footwear brand Allbirds to be acquired by American Exchange Group
Allbirds is getting a new owner.
The sustainable footwear brand, which launched online in 2014, is being acquired by American Exchange Group. According to the deal, American Exchange Group will acquire all of Allbirds’ intellectual property and other assets and liabilities for an estimated $39 million.
The deal is expected to close in the second quarter of 2026, and a distribution to stockholders of net proceeds -- as well as a winding-down of the public business -- will be complete in the third quarter of 2026.
American Exchange Group's portfolio includes approximately 30 fashion, accessories and cosmetics brands, including Aerosoles, Ed Hardy, Ecko Unltd. and more.
“We are incredibly thankful to our teams for the work they have been doing to fuel our product engine, build awareness of Allbirds and deliver an engaging customer experience,” said Joe Vernachio, CEO of Allbirds. “Over the past decade, Allbirds has evolved into a lifestyle footwear brand known for modern design, innovative materials and unparalleled comfort. This next chapter with AXNY builds on the foundational work already completed and sets up the brand to thrive in the years ahead.”
Earlier this year, Allbirds announced the closure of its full-price stores in the United States to instead use its resources for e-commerce and partnerships. At the time, the brand said it would continue to operate two outlet stores in the U.S. and two full-price stores in London.
Allbirds opened its first physical stores in 2018. It operated 62 stores at its peak in 2023, according to SF Gate.
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Allbirds’ financial struggles have been mounting. For its third quarter, ended Sept. 30, 2025, the company’s net revenue decreased 23.3% to $33.0 million. As a result of the sale announcement, Allbirds says it will not be issuing an earnings press release or holding its originally scheduled earnings call on March 31.
