×
355
Fashion Jobs
H&M
Facility Manager - h&m Group Head Office in Stockholm
Permanent · Stockholm
H&M
Label Compliance Specialist - Global Label & Packaging Content Solutions Team
Permanent · Stockholm
H&M
Business Expert Within Allocation Precision
Permanent · Stockholm
H&M
HR Business Partner to h&m Kids
Permanent · Stockholm
H&M
Product Owner For Loyalty Products Within Customer Engagement Area
Permanent · Stockholm
H&M
Business Expert Within Allocation Precision
Permanent · Stockholm
H&M
Way of Working Specialist - Data & Analytics at h&m Business Tech
Permanent · Stockholm
H&M
Business Expert in Inclusion & Diversity to h&m Group Business Tech
Permanent · Stockholm
H&M
Product Owner – Gift Card Experience
Permanent · Stockholm
H&M
CRM Specialist E-Mail And Push
Permanent · Stockholm
H&M
Product Owner to Payments Area
Permanent · Stockholm
H&M
Project Leader to Business Unit Menswear
Permanent · Stockholm
H&M
Product Owner – Mobile Devices in Store
Permanent · Stockholm
H&M
Business Expert to Digital Product Data Carriers
Permanent · Stockholm
H&M
Product Owner Within Topdown Planning Regions And Markets to h&m Group
Permanent · Stockholm
H&M
Talent Acquisition Partner to Business Tech – h&m Group
Permanent · Stockholm
H&M
Global Head of SEO
Permanent · Stockholm
H&M
Product Owner to Customer Engagement Area at h&m
Permanent · Stockholm
H&M
Senior Data Analyst to Allocation Precision Team to Business Tech
Permanent · Stockholm
H&M
Team Responsible Operational Purchasing
Permanent · Stockholm
H&M
HR Specialist With Focus on HR Analytics to Business Tech HR
Permanent · Stockholm
H&M
Agile Program Manager Within Supply Chain
Permanent · Stockholm
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.