Sustainable sneaker brand Allbirds is reportedly set to go public, with a target valuation of £1.6 billion (approximately $2.2 billion USD).
Founded in 2014 by Tim Brown and Joey Zwillinger, Allbirds has become renowned for its eco-friendly approach to footwear in recent years, as well as its minimalist designs.
Now, taking things to the next level, the label is said to be prepared to offer 19.2 million shares, valued between $12 USD and $14 USD each.
This news follows a major 2020 for the brand who after collaborating with adidas in a bid to “lower footwear’s carbon dioxide emissions”, received $100 million USD in a round of Series E funding as it looked to diversify its products and open more physical retail locations.
More information regarding Allbirds’ IPO will be announced in due course.
In other footwear news, Nike has added the Air Max 95 to its “Running Club” collection.
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