retail

Allbirds Sashays Into REI

Allbirds is bringing its eco-friendly sneakers to REI, looking to further spread its wholesale wings. The shoe company is offering the 11-item collection at select co-op stores and on the REI website. The collection includes sneakers, running shoes and trail runners, priced between $110 and $160.

This is the latest in a series of partnerships meant to broaden the wooly sneakers’ audience. Even as Allbirds expands its network of brick-and-mortar stores, consumers can now buy the shoes at Nordstrom and Public Lands, the outdoor specialty retailer owned by Dick's Sporting Goods.

It's also got a design partnership with Adidas.

And the D2C company, which has 46 stores, has been making news with its product innovation. Just weeks ago, it got sustainability geeks buzzing with its new "Plant Pacer."

That line is constructed from 100% plastic-free plant leather, made from a blend of rubber and plant oils. The court shoe is made from materials created with Natural Fiber Welding (NFW) after Allbirds invested $2 million in the startup last year.

Allbirds says the plant leather has as much as 40 times less carbon impact than traditional leather, and 17 times less carbon than synthetic leather made from plastics.

It also recently introduced SwiftFoam, a bio-based material made with castor beans, with a carbon footprint estimated to be 20% lower than petroleum-based synthetic alternatives.

Allbirds, based in San Francisco, continues to look for its footing as a public company. In its latest quarterly results, it reported revenue of $78.2 million, 15% from the second quarter of 2021 and up 55% from the comparable period in 2020. Sales in the U.S. rose 21% to $59.3 million compared to 2021.

But its losses increased to $29.4 million in the quarter, up from $7.6 million in the year-ago period.

It also lowered its financial forecasts for the year and announced that it was slowing its hiring and reducing its workforce.

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