While the buzzworthy sustainable brand that has disrupted the shoe industry in recent years increased net revenues, it also increased losses.
world was that comfort equals ugly and that natural materials were more expensive, less durable or less capable of sending you to a personal best, or put another way, worse. We decided to make consumer products differently, harnessing nature to create products that customers like better.
“Likewise, we know a lot of investors want to make money while they create and reinforce positive impact by connecting capital to opportunity,” the founders said. “Our intention is to be a high-growth, profitable business that consistently delivers great outcomes for our stakeholders. We aspire to reward investors with eye-popping returns over the long term and we’ll work our tails off to do just that.
“Our commitment to tread lighter and have a large positive impact on all of our stakeholders requires financial discipline and a focus on profitable growth,” Allbirds said. “Our expectation is that the combination of our strategy and growth initiatives will result in both top-line expansion and operational leverage, leading to a strong margin profile and a robust bottom line.”
The company is asking to be listed on the Nasdaq under the stock ticker “BIRD.” The firm listed the size of Allbirds’ offering as $100 million, which serves as a placeholder that will change once terms of the share sale are set. Allbirds, which was founded in 2015, has sold more than 8 million pairs of shoes since its inception to more than 4 million people, the majority of them in the U.S.
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