Allbirds
American Exchange Group · United States
Allbirds is a San Francisco footwear brand founded in 2015 by Tim Brown and Joey Zwillinger and known for its merino Wool Runner and natural materials. After a difficult period as a listed company, its brand and footwear assets were sold to New York-based American Exchange Group for about 39 million dollars in 2026. Allbirds was one of the defining direct-to-consumer brands of the 2010s.
| Founded | 2015 |
|---|---|
| Founders | Tim Brown, Joey Zwillinger |
| Owner | American Exchange Group (since 2026) |
| Original headquarters | San Francisco, California |
| Signature product | Wool Runner |
| Segment | Footwear |
| Website | allbirds.com |
What is Allbirds?
Allbirds is a casual footwear brand built around comfort and natural or lower-impact materials, from merino wool uppers to soles made with SweetFoam, a sugarcane-based alternative to petroleum-based EVA. Since 2026 the brand has been owned by American Exchange Group, a New York company focused on accessories design and manufacturing.
History
Allbirds was founded in 2015 by New Zealand former footballer Tim Brown and engineer Joey Zwillinger. The Wool Runner became a cult product through online sales and word of mouth, and the company listed on Nasdaq in November 2021. Slowing sales led to a restructuring: it added wholesale partners such as Nordstrom and Dick's Sporting Goods, moved several international markets to distributors and, in January 2026, announced the closure of its full-price US stores.
In March 2026 Allbirds agreed to sell its intellectual property and footwear business to American Exchange Group for an estimated 39 million dollars. The transaction was completed in 2026, and AEG announced brand management and licensing platform WSG Brands as an operating partner. The former listed company subsequently pivoted away from footwear.
Products and positioning
Allbirds sits in the mid-market. Its range includes:
- Wool Runners and Tree Runners for everyday wear
- Running and outdoor styles
- Socks and basic apparel
- Material innovations such as plant-based and biofabricated leather alternatives
Business model and distribution
The brand began as a digital-native, direct-to-consumer business, later expanding into own stores and then into wholesale and distributor partnerships. Under AEG the focus is on design and manufacture of Allbirds footwear with partners managing brand growth.
Allbirds and technology
Allbirds used product-level carbon footprint measurement in its marketing, and its claims were tested in court; a US class action over them was dismissed in 2022.
Why it matters
Allbirds illustrates both the strength and the limits of the direct-to-consumer model: rapid brand building online, followed by the costs of physical retail and the pressure of public markets. Its sale to a brand operator reflects a wider trend of distressed digital-native labels being absorbed into licensing and manufacturing groups.
Frequently asked questions
Who owns Allbirds?
The Allbirds brand and footwear business are owned by American Exchange Group, a New York-based accessories company. It agreed to buy the assets for about 39 million dollars in March 2026 and completed the deal later that year.
What are Allbirds shoes made of?
Allbirds shoes are known for merino wool and tree fibre uppers and soles that use SweetFoam, a material derived from sugarcane. The brand has also experimented with biofabricated leather alternatives.