Allbirds

Founded: 2016
Founder: Tim Brown, Joey Zwillinge
Headquarters: 730 Montgomery St, San Francisco, California, 94111, USA
Phone: 628-225-4848
Number of employees: 700
Website: www.allbirds.com

Overview

Allbirds is a San Francisco-based footwear and apparel company founded by Tim Brown and Joey Zwillinger in 2016. The company has earned a reputation for its commitment to sustainability and innovative materials, with a focus on comfort and environmentally friendly design.

Company History

Before launching Allbirds, Tim Brown, a former professional soccer player from New Zealand, noticed a lack of sustainable, comfortable, and stylish footwear options on the market. In 2014, he launched a Kickstarter campaign for a wool shoe prototype. The campaign was a resounding success, raising over $119,000. In 2016, Brown partnered with engineer and renewables expert Joey Zwillinger to officially launch the company. Their first shoe, the Wool Runner, quickly gained popularity thanks to its comfort, style, and eco-friendly materials.

Product Offering

Allbirds has expanded its product line significantly since the initial Wool Runner launch. The company now offers a range of shoes, including sneakers, loafers, high-tops, and weather-resistant footwear, as well as socks and various apparel items. They focus on using natural and sustainable materials in their products, such as merino wool, eucalyptus tree fibers, and sugarcane.

Wool Collection: The first Allbirds product line, the Wool Collection, features shoes made from superfine New Zealand merino wool. This material provides a soft, comfortable, and moisture-wicking fabric that keeps feet warm in cold weather and cool in warm weather. The Wool Runner and Wool Lounger remain popular products in this collection.

Tree Collection: Launched in 2018, the Tree Collection features shoes made from eucalyptus tree fibers. This lightweight, breathable material is ideal for warm weather and provides a unique texture to the shoes. The Tree Runner, Tree Breezer, and Tree Skippers are popular products in this collection.

Sugar Collection: The Sugar Collection, introduced in 2019, utilizes a proprietary material called SweetFoam, made from Brazilian sugarcane. This sustainable and carbon-negative foam is used in the soles of Allbirds’ shoes, providing excellent cushioning and support. The company has also made the SweetFoam technology open-source, allowing other footwear companies to adopt the sustainable material in their products.

Apparel: Allbirds expanded into apparel in 2020, launching a range of clothing items made from their signature sustainable materials. The apparel collection includes T-shirts, sweaters, hoodies, and jackets, as well as undergarments and sleepwear.

Acquisitions

In 2021, Allbirds acquired a majority stake in the Swedish outdoor apparel brand Houdini Sportswear. This acquisition allowed Allbirds to expand its product offering and tap into Houdini’s expertise in sustainability and performance materials.

Going Public

Allbirds went public on November 3, 2021, through an initial public offering (IPO) on the Nasdaq stock exchange under the ticker symbol “BIRD.” The company’s IPO was priced at $15 per share, raising around $269.5 million and giving Allbirds a valuation of approximately $3.7 billion. The successful IPO marked a significant milestone for the sustainable footwear company, providing additional capital for growth and expansion.

Funding Rounds

Allbirds has raised funds through several funding rounds since its inception.

1.Seed Funding Round (2015): Before the official launch of the company, Allbirds raised an undisclosed amount of seed funding in 2015 from investors including Lerer Hippeau, Slow Ventures, and Peterson Ventures.

2.Series A Funding Round (2016): In 2016, Allbirds raised $7.25 million in a Series A funding round led by Maveron, with participation from existing investors Lerer Hippeau, Slow Ventures, and Peterson Ventures, as well as new investors including Red Sea Ventures, Collaborative Fund, and Great Oaks Venture Capital.

3.Series B Funding Round (2017): Allbirds raised $17.5 million in a Series B funding round in 2017. The round was led by Tiger Global Management, with participation from existing investors including Maveron, Lerer Hippeau, and Peterson Ventures.

4.Series C Funding Round (2018): In 2018, Allbirds raised $50 million in a Series C funding round, bringing the company’s total funding to over $75 million. The round was led by T. Rowe Price, with participation from Fidelity Management & Research Company, Tiger Global Management, and existing investors such as Maveron and Lerer Hippeau.

5.Series D Funding Round (2020): Allbirds raised an additional $100 million in a Series D funding round in 2020. The round was led by Franklin Templeton, with participation from existing investors T. Rowe Price, Tiger Global Management, Fidelity Management & Research Company, and others. This funding round brought the company’s valuation to $1.7 billion.

These funding rounds have enabled Allbirds to grow and expand its product offerings, invest in sustainable materials and technologies, and enter new markets globally. The company has successfully leveraged these investments to establish itself as a leader in the sustainable footwear and apparel industry.

Partnerships

Allbirds has collaborated with various organizations and companies to promote sustainability, eco-friendly practices, and innovative product development. Some notable partnerships include:

Partnership with Soorty: In 2021, Allbirds partnered with Soorty, a leading denim manufacturer in Pakistan, to develop a line of sustainable denim using organic cotton and regenerative agriculture practices. This partnership aimed to reduce the environmental impact of traditional denim production.

Collaboration with Adidas: Allbirds announced a collaboration with Adidas in 2020, aiming to create the world’s lowest carbon-footprint sports shoe. The partnership resulted in the launch of the FUTURECRAFT.FOOTPRINT, a limited-edition sneaker with a carbon footprint of only 2.94 kg CO2e per pair, significantly lower than the industry average.

Partnership with JUST Water: Allbirds teamed up with JUST Water, a sustainable bottled water company co-founded by Jaden Smith, in 2019 to create a limited-edition sneaker made from the same material as JUST Water’s plant-based packaging. The collaboration aimed to raise awareness about plastic waste and the importance of sustainability.

Awards and Recognition

Allbirds has received numerous awards and recognition for its commitment to sustainability, innovation, and responsible business practices. Some of the most notable accolades include:

Fast Company’s Most Innovative Companies: Allbirds was named one of Fast Company’s Most Innovative Companies in 2018 and 2019. The company ranked first in the Style category in 2018 and 10th overall in 2019.

TIME’s 50 Genius Companies: In 2018, Allbirds was included in TIME’s list of 50 Genius Companies, which recognized businesses that were inventing the future through their innovative products and services.

B Corporation Certification: Allbirds became a Certified B Corporation in 2018, joining a global community of businesses that prioritize social and environmental responsibility. B Corp certification is awarded to companies that meet high standards of social and environmental performance, transparency, and accountability.

Vogue Fashion Fund’s Sustainable Innovation Award: In 2021, Allbirds received the Vogue Fashion Fund’s Sustainable Innovation Award, which recognized the company’s commitment to sustainability and innovative product development.

Drapers Footwear Awards: Allbirds won the Drapers Footwear Awards’ Sustainable Initiative of the Year in 2019, highlighting the company’s environmental stewardship and innovative use of sustainable materials.

Environmental Impact

Allbirds has made a significant positive environmental impact through its commitment to sustainable and eco-friendly practices. The company’s efforts to minimize its carbon footprint and reduce waste are grounded in the following information:

Carbon Footprint Labeling: In April 2020, Allbirds began labeling its products with their respective carbon footprints. This initiative provides transparency to consumers about the environmental impact of their purchases. The carbon footprint is calculated based on materials, manufacturing, transportation, and end-of-life disposal.

Sustainable Materials: Allbirds uses sustainable materials in its products to reduce environmental impact. The company’s signature materials include:

A. Merino wool: Sourced from New Zealand, this ZQ-certified wool meets strict standards for sustainable farming and animal welfare.
B. Eucalyptus tree fibers: The Tree Collection utilizes TENCEL Lyocell, a fiber sourced from eucalyptus trees grown in responsibly managed forests, certified by the Forest Stewardship Council (FSC).
C. SweetFoam: Derived from Brazilian sugarcane, this carbon-negative foam is used in shoe soles. Allbirds made the SweetFoam technology open-source to encourage other companies to adopt this sustainable material.

Reducing Waste: Allbirds designs its shoes to minimize waste during production. For example, the wool used in their footwear is knitted to shape, reducing off-cuts. Additionally, the company uses recycled materials for packaging, cutting down on plastic waste.

B Corporation Certification: Allbirds is a Certified B Corporation, which means the company meets rigorous standards of social and environmental performance, transparency, and accountability. This certification demonstrates Allbirds’ commitment to sustainable business practices and environmental stewardship.

Commitment to Carbon Neutrality: Allbirds has pledged to maintain carbon neutrality across its entire operation, which includes measuring its carbon footprint, reducing emissions where possible, and offsetting the remaining emissions by investing in verified carbon offset projects. The company has partnered with organizations like the Carbonfund.org Foundation to support projects that focus on reforestation, renewable energy, and energy efficiency.

Water Savings: Allbirds’ use of sustainable materials and production processes results in considerable water savings compared to traditional footwear manufacturing. For example, the wool used in their shoes requires 60% less water during the dyeing process than traditional synthetic materials. Additionally, the production of TENCEL Lyocell fibers used in the Tree Collection consumes 95% less water than conventional cotton.

By prioritizing sustainable materials, transparent labeling, waste reduction, and carbon neutrality, Allbirds has demonstrated a strong commitment to minimizing its environmental impact. The company’s efforts have contributed to a more eco-friendly footwear industry and have set a positive example for other businesses in the fashion sector.

Philanthropic Initiatives

Allbirds has demonstrated a commitment to philanthropy and social responsibility through several initiatives:

Partnership with Soles4Souls: Allbirds has partnered with Soles4Souls, a non-profit organization that collects and distributes shoes to people in need around the world. Allbirds encourages customers to donate their gently worn shoes to the organization. In return, customers receive a $20 credit towards their next Allbirds purchase.

Shoe Donations During COVID-19 Pandemic: In response to the COVID-19 pandemic, Allbirds donated thousands of pairs of shoes to healthcare workers on the frontlines in the United States, New Zealand, and Europe. Additionally, the company implemented a “buy-one-give-one” campaign, allowing customers to purchase a pair of shoes and donate a pair to a healthcare worker at a discounted price.

WildAid Partnership: In 2020, Allbirds collaborated with WildAid, a wildlife conservation organization, to create a limited-edition collection of its Wool Runner shoes. A portion of the proceeds from the sale of these shoes was donated to WildAid to support their mission of reducing global consumption of wildlife products and ending illegal wildlife trade.

Support for Environmental Nonprofits: Allbirds has also supported environmental nonprofit organizations through product collaborations and donations. For example, in 2018, the company partnered with the Audubon Society to create a limited-edition collection of shoes inspired by endangered birds, with a portion of the proceeds donated to the society.

Employee Volunteering: Allbirds encourages its employees to give back to their communities by offering paid volunteer days. This initiative supports employees in engaging with local organizations and participating in community service activities.

Through these philanthropic initiatives, Allbirds has demonstrated a commitment to social responsibility and environmental stewardship. The company’s efforts to support communities, healthcare workers, and environmental causes reflect its values and dedication to making a positive impact on the world.

Celebrities Spotted wearing the product

Allbirds has attracted the attention of several celebrities who have been spotted wearing the company’s sustainable and comfortable footwear:

Leonardo DiCaprio: In 2018, the renowned actor and environmental activist Leonardo DiCaprio invested in Allbirds and publicly endorsed the company. DiCaprio shared his support for Allbirds on Twitter, praising the brand for creating sustainable footwear.

Oprah Winfrey: Oprah Winfrey included Allbirds shoes in her annual list of “Favorite Things” in 2018, a highly influential endorsement that generates significant media coverage and consumer interest.

Emma Watson: The actress and activist have been seen wearing Allbirds shoes and have shared her appreciation for the brand on social media. Emma Watson’s endorsement adds to the brand’s credibility, given her commitment to promoting sustainable and ethical fashion.

Mila Kunis: The actress was spotted wearing Allbirds shoes during a family outing, which was covered by various media outlets. Celebrity sightings like this help raise awareness for the brand and contribute to its image as a popular and stylish choice.

Matthew McConaughey: The actor and producer have been seen sporting Allbirds shoes in public, further highlighting the brand’s popularity among celebrities.

While these celebrity sightings are not part of any formal advertising campaigns, they have undoubtedly contributed to the brand’s visibility and appeal. The support from well-known figures, particularly those with a commitment to environmental causes, bolsters Allbirds’ reputation as a sustainable, comfortable, and stylish footwear option.

Allbirds continues to be a pioneer in sustainable fashion, pushing the boundaries of what is possible with eco-friendly materials and design. Through its commitment to transparency, innovative partnerships, and dedication to reducing the environmental impact of its products, Allbirds has become a leading force in the footwear and apparel industry.

Disclaimer: Please note that the names and positions of employees mentioned may be subject to change, as individuals may move to different roles or organizations. While we make every effort to keep our information accurate and up-to-date, we cannot guarantee that all employee details are current or complete. We encourage you to verify the identity and positions of any individual mentioned and check their Linkedin Profile before taking any action based on their role.