Is Allbirds Going Out Of Business 2024?

Overview of Allbirds

Allbirds is a well-known footwear and apparel company that was founded by Tim Brown and Joey Zwillinger in 2016. The company is known for selling eco-friendly products, especially its shoe range made from Moreno wool.

The Rise of Allbirds

Back when Allbirds was launched, it roared with a solid Kickstarter campaign that hit a $30,000 goal in just five days. Shortly after this, the company ended up raising nearly $120,000 to start making their star Moreno wool shoes.

The Rise of Allbirds

In merely the second year of business, Time magazine featured Allbirds’ wool runner shoes, calling them “World’s Most Comfortable Shoes.”

The Fall of Allbirds

However, by 2020, the success of wool runners started waning. In August 2020, the company's losses also increased, growing from $14.5 million in 2019 to $25.9 million in 2020.

Allbirds is Losing Money

Questionable quality, Unimpressive designs, lack of demand, and competitors are reasons why Allbirds is losing money.

Allbirds is Discontinuing Items

After trying and testing out the launch of many different items, the company has decided to discontinue many of its underperforming items.

Is Allbirds Going Out Of Business?

In 2023, Allbirds reported $101.4 million in annual loss, which plummeted their shares by 47%. The company also laid off 21 employees globally in May.