Allbirds Launches Sportswear Line Ahead of Scheduled IPO
Allbirds’ new sportswear line includes high waisted leggings, biker shorts and a women’s running tank top with built-in bra.
Source: Allbirds PR
The sustainable footwear brand Allbirds is launching a collection of sportswear, making it the latest to enter a very competitive category.
With Allbirds, reducing carbon emissions and respecting the environment are a top priority. The retailer has avoided using polyester, which it says makes up 55% of all clothing and releases 700 million tonnes of carbon into the atmosphere each year. Instead, Allbirds created the running clothing with eucalyptus fiber and merino wool – two materials that go into its iconic slip-on sneakers.
Allbirds said he has been working on the collection for more than two years, with more than 70 iterations.
The line includes high waisted leggings at $ 98 and biker shorts at $ 68; a running tank top with a built-in bra that costs $ 68; moisture-wicking t-shirts for $ 58; and lightweight running shorts for men and women that sell for $ 68.
“For us at Allbirds, the disconnect between what we wear to improve our personal health and its negative impact on the health of our planet seemed like an important space to address,” co-founder Tim Brown told CNBC. “Racing clothing is generally made from synthetic materials, derived from oil barrels.”
Allbirds is committed to halving its carbon footprint per product by 2025.
Brown added that he expects shoppers to use the products for a variety of activities beyond just running. Many consumers have adapted their wardrobes to include more workout clothes on a daily basis. This fashion trend has been accelerated by the Covid pandemic.
In August 2019, the company first launched into clothing, starting with socks. Last October, Allbirds launched four garments, including a discarded crab shell shirt and a woolen puffer jacket made from New Zealand-sourced merino wool. He also broadened his shoe selection to include a running sneaker, high tops, and women’s flats.
With its sportswear launch, Allbirds is positioning itself as a closer rival to the behemoths Nike, Lululemon and Under Armor. Several other retailers have also invested in the category. Denim maker Levi Strauss announced earlier this month that it will be acquiring the Beyond Yoga women’s sports line. Sperry owner Wolverine Worldwide has picked up Lululemon’s rival Sweaty Betty for $ 410 million.
Allbirds’ Brown declined to comment on the size of the company’s clothing business relative to its footwear line.
Valued at $ 1.7 billion, Allbirds is on track for an initial public offering later this year. Bloomberg reported that it could happen as early as next month.
Allbirds declined to comment on its impending IPO.