Brand management firm American Exchange Group is buying the struggling Allbirds shoe brand in a $39 million deal.
The sale, negotiated by a special committee of independent directors, is subject to approval by the brand’s shareholders. The deal, which could see price adjustments before closing, is expected to be finalized in the second quarter of 2026 and will include a winding down of the public company.
EXCLUSIVE: RG Barry CEO Bob Mullaney Says 'We're Definitely Not Done' With Acquisitions One Month After Purchasing Gola Parent The move caps off a tumultuous period for the sustainably-minded brand that was once hailed as the next big thing in footwear. When it debuted in March 2016 with a single style, a $95 wool sneaker, magazine called Allbirds “the world’s most comfortable shoes” — a stroke of luck no one could have predicted. The brand, led then by cofounders and shoe outsiders Joey Zwillinger and Tim Brown, sold one million pairs of shoes in just two years.Both Zwillinger and Brown eventually exited as the brand made a series of missteps that saw it grow too quickly and stray too far from its tried-and-true style., the company in November posted a net revenue decline of 23.3 percent to $33.0 million, versus $43.0 million in the same year-ago period. It also reported a net loss of $20.3 million, slightly better than the net loss of $21.2 million a year ago. The brand “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,” Joe Vernachio, chief executive officer of Allbirds, said in a statement. “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.. We use vendors that may also process your information to help provide our services. // This site is protected by reCAPTCHA Enterprise and the Google WWD and Women's Wear Daily are part of Penske Media Corporation. © 2026 Fairchild Publishing, LLC. All Rights Reserved.
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