Allbirds: Can the Sustainable Shoe Company Reinvigorate the Brand?

Allbirds, Inc., the sustainable footwear company whose sneakers were rocked by public figures from Barack Obama to Leonardo DiCaprio, was a promising startup in 2016. But by end of 2022, its stock price had plummeted to ~4% of its previous high. Born out of co-founder Tim Brown’s frustration for the lack of comfortable, minimalist sneakers on the market, Allbirds aimed to address both ease of wear and sustainability as a “purpose-native company built upon a system that leverages nature in a responsible way.” It was met with an almost immediate cult following in Silicon Valley, perceived as both luxurious and responsible. However, the company struggled to realize its anticipated growth, and now, CEO Joey Zwillinger must explore how to turnaround the brand.