Allbirds, the American apparel and footwear brand, has seen its Q4 net sales shoot up by 23 per cent to US $ 97.2 million – its highest ever sales quarter to date. Compared to Q4 of 2019, the growth has been 43 per cent.
The full-year 2021 net revenue climbed 27 per cent to US $ 277.5 million compared to 2020 and increased by 43 per cent when compared to 2019.
The brand, however, saw surge in its net loss, which expanded to US $ 10.4 million.
Though year-wise too, the net loss almost doubled from US $ 25.9 million to US $ 45.4 million, Joey Zwillinger, Co-CEO, Allbirds expressed optimism and averred “We are … laser-focused on generating meaningful and durable profitability.”
The second quarter should now see Allbirds venturing into wholesale, if all its business strategies work out. Joey has said that Allbirds will move into the channel really slowly and methodically.
Foraying into wholesale may more help the retailer’s performance footwear segment, as it is integral to be in the stores where consumers are buying shoes.
Brand awareness is key! Joey adds “We’ve talked about awareness as a really important indicator for our future growth and being at 11 per cent in the US, which is our biggest market of course and highest brand awareness, that’s something we’ve got to work on every day.”
Allbirds designs and sells apparels and footwear, and generated US $ 100.2 million in 2019. It currently has retail stores in many countries including the US, New Zealand and China.
