BIRD News & Events

Allbirds announced that it has entered into a definitive agreement with American Exchange Group, a player in accessories design, licensing and manufacturing, under which AXNY will acquire all of the intellectual property and certain other assets and liabilities of Allbirds for an estimated transaction value of $39M, subject to purchase price adjustments to be finalized upon closing. The Asset Sale was negotiated by a special committee of independent directors, received unanimous approval by Allbirds' Board of Directors, and is subject to approval by Allbirds' common stockholders. A proxy statement describing the transaction and seeking stockholder approval of the Asset Sale and subsequent dissolution and winding down of the company, is expected to be filed no later than April 24, 2026. The transaction is expected to close in the second quarter of 2026 and a distribution to stockholders of net proceeds, taking into account wind-down expenses, is anticipated to be made in the third quarter of 2026. Joe Vernachio, CEO of Allbirds, stated, "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. 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."

Allbirds announced actions to build a simpler and more profitable lifestyle footwear business. The Company will close its remaining full-price stores in the U.S. by the end of February, enabling Allbirds to dedicate resources toward its e-commerce platform, wholesale partnerships and international distributorships, all of which offer greater reach, flexibility and operating leverage. The Company expects these closures to be a capital-light endeavor and will discuss anticipated SG&A savings and related cash charges on its Q4 and FY25 earnings conference call, which is expected to occur in March. Allbirds will continue to operate two outlet stores in the U.S. and two full-price stores in London, preserving key brand touchpoints while prioritizing capital-efficient growth.

Allbirds unveiled its first-ever fully waterproof shoes, made with the brand's hallmark material: wool. Whether you're braving downpours during daily commutes, or stepping out to slick city streets, these three sneaker styles deliver protection, all-day style and comfort you can count on, even in unpredictable conditions. The new assortment includes three silhouettes: The Wool Runner NZ Waterproof $150, Wool Runner NZ Mid Waterproof $160 and Wool Cruiser Waterproof $140. These additions expand Allbirds' selection of weather-ready shoes, rounding out its water-resistant Mizzle and Protect offerings with fully waterproof styles. The Waterproof collection is available online and in-stores beginning September 30, 2025.