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The Guardian - UK

Business

Sarah Butler

‘From high flyer to dead parrot’: former billion-dollar eco-shoe brand Allbirds sold for $39m

People wearing Allbirds footwear — Although Allbirds initially achieved rapid success, the eco-trainer brand lost its footing amid disappointing global sales. Photograph: Tommaso Boddi/Getty Images for Allbirds

Allbirds, the San Francisco sustainable trainer brand once valued at more than $4bn, is being sold for just $39m (£29.6m) 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 as the future of footwear.

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