Silicon Valley’s favorite sneaker brand closes its doors and sells for pennies.
They were the “Silicon Valley Uniform”—sustainable, cult-favorite sneakers that defined an era of tech-driven fashion. But after a decade of soaring valuations and rapid expansion, the wool has finally pulled back.
With all U.S. full-price stores officially shuttered and a fire-sale acquisition by American Exchange Group for a mere fraction of its peak value, we look at the collapse of Allbirds. Was it a failure of the product, or did the brand simply fly too close to the sun?
READ MORE: The sustainable footwear pioneer exits U.S. retail as it prepares for dissolution and asset sale