"We are incredibly thankful to our teams for the work they have been doing to fuel our product engine, build awareness of Allbirds and deliver an engaging customer experience."
"Over the past decade, Allbirds has evolved into a lifestyle footwear brand known for modern design, innovative materials and unparalleled comfort. This next chapter with AXNY builds on the foundational work already completed and sets up the brand to thrive in the years ahead."
AllBirds Inc. has entered into a definitive agreement to sell its intellectual property, assets, and liabilities to American Exchange Group for $39 million. The sale has been approved by Allbirds' board but requires stockholder approval. Allbirds plans to file for this approval by April 24 and aims to complete the transaction in the second quarter. CEO Joe Vernachio expressed gratitude for the team's efforts and emphasized the brand's evolution into a lifestyle footwear brand, highlighting the potential for future growth under AXNY.
Read at Fast Company
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