Allbirds is a sustainable footwear and apparel company founded in 2015 and headquartered in San Francisco, California (though with roots in New Zealand).

Its mission centers on creating environmentally responsible apparel using natural materials, minimizing carbon footprint, and promoting sustainable consumer habits.

From its early viral growth and celebrity adoption to raising hundreds of millions and going public in 2021, Allbirds enjoyed momentum as a “sustainable darling.”

However, since its IPO, the company has struggled with declining revenues, losses, leadership turnover, over expansion, and brand fatigue. In 2024, revenues fell ~25 % year over year to ~$189.8 million, with net losses exceeding $93 million.

Key lessons include the hazards of rapid product-line expansion beyond core brand identity, balancing growth with profitability, and the challenge of proving sustainability claims under investor scrutiny.

The remainder of this case study dissects Allbirds’ journey across structural, financial, competitive, operational, and strategic dimensions, and concludes with forward-looking recommendations and lessons for other impact-driven companies.

Full case study here

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