New Zealand footwear brand AllBirds is preparing for a US$2.4 billion listing on the US’ Nasdaq this year.
According to The New York Times DealBook, the brand is talking with banks in preparation for an initial public offering. The listing time, however, has not yet been disclosed.
Founded by Kiwi footballer Tim Brown and biotech engineer Joey Zwillinger in 2016, Allbirds makes sustainable footwear made from natural materials, such as New Zealand Merino wool. The brand operates 23 stores across South Korea, Japan, China, Berlin, Amsterdam, London, New Zealand and the US.
Last September, the company secured a US$100 million funding round led by Franklin Templeton, the San Mateo, California investment firm. The footwear company was last valued at roughly US$1.7 billion.