Shoemaker Allbirds in talks with banks for IPO: Report

A girl walks previous an Allbirds retailer within the Georgetown neighborhood of Washington, D.C., on Tuesday, Feb. 16, 2021. Al Drago | Bloomberg | Getty Photographs The fashionable shoe model Allbirds is within the strategy of interviewing banks in preparation for an preliminary public providing, in keeping with a report within the New York Occasions


A girl walks previous an Allbirds retailer within the Georgetown neighborhood of Washington, D.C., on Tuesday, Feb. 16, 2021.

Al Drago | Bloomberg | Getty Photographs

The fashionable shoe model Allbirds is within the strategy of interviewing banks in preparation for an preliminary public providing, in keeping with a report within the New York Occasions DealBook.

The direct-to-consumer firm was final valued at roughly $1.7 billion.

A consultant from Allbirds didn’t instantly reply to CNBC’s request for remark.

It is not clear when Allbirds plans to go public, however an IPO would launch it into an already scorching market, fueled by a latest slew of tech IPOs. Shopper-facing manufacturers akin to Jessica Alba’s Trustworthy Firm are actually readying a debut. The eyeglass retailer Warby Parker and Panera’s father or mother firm JAB Holdings are additionally reportedly seeking to go public amid mounting investor enthusiasm post-pandemic for retail and restaurant manufacturers.

Through the well being disaster, Allbirds has seen momentum for its merchandise — together with its iconic slip-on sneaker made out of wool and different sustainable supplies — continue to grow. The model began with a cult-like following in Silicon Valley, which shortly unfold to world recognition.

It has 23 shops at this time, in keeping with its web site, together with areas in London, Berlin, Shanghai and Tokyo.

Final 12 months, Allbirds launched its first operating shoe, placing it up towards larger rivals together with Nike and Adidas. It additionally has began promoting numerous clothes, together with socks, sweaters and jackets.

“A giant focus for us is to attempt to make higher merchandise with much less environmental influence,” Allbirds co-founder Tim Brown advised CNBC in a latest interview. “The enterprise has been terribly resilient by way of a troublesome time period.”

Allbirds has raised greater than $200 million to this point, in keeping with Crunchbase.



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