Allbirds reportedly files for IPO confidentially
San Francisco-based Allbirds is the latest brand rumored to have filed confidentially for an IPO.
Following Authentic Brands Group and most recently Warby Parker, the IPO would launch into an already-hot market. Despite the Covid-19 pandemic, Allbirds has seen growing momentum for its products as it enters new categories, while maintaining its commitment to sustainability.
The direct-to-consumer company, last valued at roughly $1.7 billion, joins a fast-growing list of consumer brands to have filed for an IPO since the start of the year, with the likes of Poshmark, ThredUp, Dr Martens and The RealReal all having gone public over the course of the last six months.
Specialized in sustainably developed footwear since its foundation by Tim Brown and Joey Zwillinger in 2016, the label expanded into ready-to-wear in October 2020. The offering now includes t-shirts, jumpers, cardigans and lightweight puffer jackets.
It currently operates 23 retail locations in the United States, Europe, Asia, and New Zealand, and has experienced continued success internationally. In fact, Allbirds has been growing in the Asia-Pacific region where its seen strong launches in Japan and South Korea and continued growth in the Chinese market.
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