×
99 263
Fashion Jobs
MACY'S
Colleague, Visual Security Officer, Baldwin Hills Crenshaw Plaza - Flex
Permanent · Los Angeles
MACY'S
Asset Protection Detective, Ala Moana - Full Time
Permanent · Honolulu
MACY'S
Colleague, Visual Security Officer, Lakewood Center - Flex
Permanent · Lakewood
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Fresno
L'OREAL GROUP
Vice President, Creative - Kiehl's Dmi (Global Creative)
Permanent · New York
KOHLS
Full-Time Loss Prevention Officer
Permanent · City of Industry
KOHLS
Full-Time Loss Prevention Officer
Permanent · Vacaville
MICHAEL KORS STORES LLC
Full Time Sales Supervisor, Brookfield Place Nyc
Permanent · Rochester Metropolitan Area
ROSS STORES
Store Protection Specialist
Permanent · Houston
TJ MAXX
lp Detective
Permanent · Homestead
TJ MAXX
70118-Loss Prevention Detective, Newbury st, Boston, ma
Permanent · Boston
HOMEGOODS
lp Detective
Permanent · Frederick
TJ MAXX
70118-Loss Preventon Detective, Downtown Boston, ma
Permanent · Boston
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Chattanooga
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Norman
MACY'S
Asset Protection Detective, Bridgewater Commons - Full Time
Permanent · Bridgewater Township
MACY'S
Asset Protection Security Guard, Presidential Markets - Full Time
Permanent · Snellville
MACY'S
Asset Protection Detective, Santa Ana Mainplace - Part Time
Permanent · Santa Ana
MACY'S
Asset Protection Detective, Reno Meadowwood - Full Time
Permanent · Reno
MACY'S
Asset Protection Detective, Topanga - Part Time
Permanent · Los Angeles
BLOOMINGDALE'S
Asset Protection Outlet Supervisor, Outlets at Orange - Full Time
Permanent · Orange
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Roosevelt Field - Part Time
Permanent · Garden City
By
Reuters
Published
Oct 25, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Eco-friendly sneaker maker Allbirds aims for $2 bln valuation in U.S. IPO

By
Reuters
Published
Oct 25, 2021

Eco-friendly sneaker maker Allbirds Inc said on Monday it aims to be valued at over $2 billion in its New York IPO, joining a growing number of firms tapping into surging consumer demand and investor interest for such products.


Photo: Allbirds



The company, backed by asset manager Franklin Templeton, said it is offering 19.2 million shares priced between $12 and $14 each, along with the selling stockholders. At the top end of that range, the IPO would fetch about $269 million.

As global calls grow to limit global warming and switch to more environmentally friendly ways of living, several companies have come under investor and activist pressure to contribute to the change.

Among a handful of startups that recently tapped into investor interest in such sustainable offerings were Oprah Winfrey-backed vegan milk maker Oatly Group AB and Jessica Alba's consumer goods company Honest Co.

Founded in 2015, Allbirds is also backed by Oscar-winning actor Leonardo DiCaprio and uses wool, fiber derived from eucalyptus and other plant-based alternatives in its products. It has partnered with Adidas to create a range of sustainable sneakers, some of which have become immensely popular across Silicon Valley where the company is headquartered.

Numerous celebrities, top business executives and high-profile personalities such as Barack Obama, Ashton Kutcher and Google co-founder Larry Page have been spotted wearing Allbirds sneakers in recent years.

Allbirds, however, toned down some of its environmental references in an amended filing earlier this month. The company, which said in August it would pioneer a framework to conduct the first-ever "sustainable public equity offering", later removed references to the claim.

In its latest filing, Allbirds said it expects net revenue to grow up to 32% to $62.5 million for the three months ended Sept. 30, due to higher sales at its physical stores.

However, higher expenses are expected to drive up net losses to about $15 million to $18 million in the quarter, from nearly $7 million a year earlier.

Morgan Stanley, J.P. Morgan and BofA Securities are the lead underwriters for the offering.

© Thomson Reuters 2021 All rights reserved.