Allbirds to sell assets to American Exchange Group in $39 million deal

Footwear brand Allbirds, known for its distinctive 'wool runner' sneakers, is selling its brand assets - including its intellectual property and certain other assets and liabilities - for $39 million to the brand management firm American Exchange Group.

As part of the deal, which is still subject to shareholder approval, Allbirds will be dissolved and wound down.

American Exchange Group, also referred to as AXNY, specializes in accessories design, licensing and manufacturing across categories including footwear, but also watches, jewelry, handbags, and more. With its expertise in brand strategy, marketing, sourcing, operational logistics and digital innovation, AXNY said it has a track record of transforming brands.

According to Allbirds CEO Joe Vernachio, the next chapter with AXNY "builds on the foundational work already completed and sets up the brand to thrive in the years ahead”.

While the deal was announced to be for $39 million (£29 million), this is subject to adjustment, and the final purchase price is due to be finalised on closing of the deal, which is set for the second quarter of 2026.

The sale to AXNY was negotiated by a special committee of independent directors and received unanimous approval from Allbirds’ board, but is still subject to approval by Allbirds’ common stockholders.

Vernachio added: "We are incredibly thankful to our teams for the work they have been doing to fuel our product engine, build awareness of Allbirds and deliver an engaging customer experience. Over the past decade, Allbirds has evolved into a lifestyle footwear brand known for modern design, innovative materials and unparalleled comfort."

Allbirds was set to publish its full-year 2025 earnings in an earnings call on 31 March but canceled the call and press release following the announcement of the sale.

Its last financial filings for Q3 2025 showed a 23.3% decline compared to the year before, with net revenues of $33 million (£25 million), and margins also declining.

Allbirds attributed the results, which were in line with expectations, to structural changes within the company - part of its turnaround strategy to support profitable growth. Vernachio added at the time that the company was "taking definitive steps to further reduce costs, enhance liquidity, and pursue value-creating opportunities".

As part of the strategy, Allbirds announced in January 2026 that it was closing its remaining full-price stores in the US. Its two full-price stores in London were said to remain operational, although the sale and dissolution of the company may ultimately affect their future status.

Allbirds added that it would instead focus its resources on its e-commerce platform, as well as wholesale partnerships and international distributorships, all of which would offer greater reach, flexibility and operating leverage for the company.