Allbirds, Inc. (BIRD): Business Model Canvas

In der sich ständig weiterentwickelnden Landschaft der nachhaltigen Mode hat sich Allbirds zu einer revolutionären Marke entwickelt, die umweltbewusste Schuhe in ein globales Phänomen verwandelt. Durch die sorgfältige Entwicklung eines Geschäftsmodells, das Umweltverantwortung mit innovativem Design verbindet, hat das Unternehmen die Herzen von Millennials und urbanen Fachleuten erobert, die Komfort, Stil und Nachhaltigkeit suchen. Ihr einzigartiger Ansatz geht über die bloße Schuhproduktion hinaus und schafft eine fesselnde Erzählung, die traditionelle Normen der Modebranche in Frage stellt und einen neuen Standard für verantwortungsvolle Konsumgüter setzt.

Allbirds, Inc. (BIRD) – Geschäftsmodell: Wichtige Partnerschaften

Nachhaltige Materiallieferanten

Allbirds arbeitet mit bestimmten Lieferanten nachhaltiger Materialien zusammen:

Material	Lieferantendetails	Jahresvolumen
ZQ Merinowolle	Neuseeländische Merino-Firma	Etwa 250.000 kg pro Jahr
Eukalyptusfaser	Lenzing AG (Österreich)	Etwa 180.000 kg pro Jahr

Fertigungspartner

Allbirds unterhält Produktionsbeziehungen in bestimmten Regionen:

Land	Anzahl der Fabriken	Produktionskapazität
China	2 zertifizierte Fabriken	500.000 Schuheinheiten jährlich
Vietnam	1 zertifizierte Fabrik	350.000 Schuheinheiten jährlich

Einzelhandelsvertriebspartner

• Nordstrom (85 Einzelhandelsstandorte)
• REI (168 Einzelhandelsstandorte)
• Außenstimmen
• Fachhändler für Sportartikel

Nachhaltigkeitszertifizierungsorganisationen

Zertifizierung	Verifizierungsstelle	Konformitätsstufe
B Corp-Zertifizierung	B-Labor	Ergebnis: 91,4 Punkte
CO2-neutrale Zertifizierung	Klimaneutral	100 % Kompensation seit 2019

CO2-Ausgleichs- und Umwelt-Nonprofit-Organisationen

• Offsetters Climate Solutions (Kanada)
• Cooler Effekt
• Naturschutz International

Gesamte CO2-Ausgleichsinvestition im Jahr 2023: 2,3 Millionen US-Dollar

Allbirds, Inc. (BIRD) – Geschäftsmodell: Hauptaktivitäten

Nachhaltiges Schuh- und Bekleidungsdesign

Im vierten Quartal 2023 verfügt Allbirds über 13 einzigartige Materialinnovationen im Schuhdesign, wobei 92 % der Materialien aus erneuerbaren Ressourcen stammen.

Designkategorie	Gesamtentwürfe	Nachhaltigkeitsprozentsatz
Wollschuhe	7 Modelle	97 % nachhaltige Materialien
Baumfaserschuhe	5 Modelle	95 % nachhaltige Materialien
Bekleidungslinie	18 Produkttypen	89 % nachhaltige Materialien

Umweltfreundliche Materialforschung und -entwicklung

Allbirds investierte im Jahr 2023 4,2 Millionen US-Dollar in Forschung und Entwicklung und konzentrierte sich dabei auf innovative nachhaltige Materialien.

• Entwickelter ZQ-Beschaffungsstandard für Merinowolle
• Entwickelte SweetFoam™-Sohlentechnologie auf Zuckerrohrbasis
• Integration recycelter Plastikflaschen in die Schuhherstellung implementiert

Direkter Online-Verkauf an den Verbraucher

Online-Verkäufe machten im Jahr 2023 62 % des Gesamtumsatzes aus und beliefen sich auf insgesamt 97,3 Millionen US-Dollar.

Vertriebskanal	Einnahmen	Wachstumsrate
E-Commerce-Plattform	97,3 Millionen US-Dollar	12,4 % Wachstum im Jahresvergleich
Website-Traffic	3,2 Millionen monatliche Besucher	Steigerung um 18 %

Betrieb von Einzelhandelsgeschäften

Allbirds betreibt seit Dezember 2023 44 physische Einzelhandelsstandorte in den Vereinigten Staaten und auf internationalen Märkten.

• 26 Geschäfte in den Vereinigten Staaten
• 8 Geschäfte in Kanada
• 10 Geschäfte auf internationalen Märkten

Nachhaltiges Marketing und Marken-Storytelling

Die Marketingausgaben beliefen sich im Jahr 2023 auf 22,6 Millionen US-Dollar, wobei 85 % auf die Nachhaltigkeitserzählung konzentriert waren.

Marketingkanal	Ausgaben	Nachhaltigkeitsfokus
Digitales Marketing	14,3 Millionen US-Dollar	90 % Nachhaltigkeitsanteil
Soziale Medien	5,2 Millionen US-Dollar	80 % umweltfreundliche Nachrichten
Print und traditionelle Medien	3,1 Millionen US-Dollar	75 % nachhaltiges Storytelling

Allbirds, Inc. (BIRD) – Geschäftsmodell: Schlüsselressourcen

Proprietäre nachhaltige Materialtechnologien

Allbirds verwendet bei seiner Produktentwicklung einzigartige nachhaltige Materialien:

Material	Zusammensetzung	Produktanwendung
Wolle	ZQ Merinowolle	Schuhe und Bekleidung
Zuckerrohr	SweetFoam™ EVA	Schuhsohlen
Recycelter Kunststoff	In Stoff umgewandelte Flaschen	Schuhoberteile

Starker Markenruf für umweltfreundliche Mode

Markenkennzahlen ab 2023:

• CO2-neutrale Zertifizierung
• B Corp-zertifiziert
• Netto-Null-Kohlenstoff-Emissionen bis 2025

Design- und Innovationsteam

Zusammensetzung des Innovationsteams:

Kategorie	Anzahl der Fachkräfte
Konstrukteure	42
Materialwissenschaftler	18
Nachhaltigkeitsexperten	12

Digitale E-Commerce-Infrastruktur

E-Commerce-Leistungskennzahlen:

• Online-Umsatz: 297,4 Millionen US-Dollar (2023)
• Digitale Conversion-Rate: 3,2 %
• Mobiler Traffic: 68 % des gesamten Web-Traffics

Auf Nachhaltigkeit ausgerichtetes geistiges Eigentum

IP-Kategorie	Anzahl der angemeldeten Patente
Materialinnovation	14
Herstellungsprozess	7
Nachhaltiges Design	9

Allbirds, Inc. (BIRD) – Geschäftsmodell: Wertversprechen

Umweltbewusste, minimalistische Schuhe

Allbirds verwendet bei der Schuhproduktion 90 % recyceltes Polyester und 40 % natürliche Materialien. Der CO2-Fußabdruck des Unternehmens pro Paar Schuhe beträgt 7,6 kg CO2e und ist damit deutlich niedriger als bei herkömmlichen Schuhherstellern.

Materialtyp	Prozentsatz der Nutzung	Auswirkungen auf die Nachhaltigkeit
Merinowolle	30%	Erneuerbare Ressource
Recyceltes Polyester	90%	Reduzierter Plastikmüll
Naturkautschuk	10%	Biologisch abbaubare Komponente

Komfortorientierte Schuhdesigns

Allbirds bietet Schuhdesigns mit ergonomische Unterstützung und leichte Konstruktion. Ihre proprietäre SweetFoam®-Zwischensohle sorgt für eine Energierückgabe von 82 % und reduziert die Ermüdung des Fußes.

• Durchschnittliches Schuhgewicht: 340 Gramm
• Dämpfungseffizienz: 4,2/5 Kundenbewertung
• Bewertung der Fußgewölbeunterstützung: 4,1/5

Transparente Nachhaltigkeitspraktiken

Allbirds meldet einen Gesamtkohlenstoffausstoß von 12.700 Tonnen im Jahr 2023, wobei 100 % CO2-Neutralität durch verifizierte Ausgleichsprogramme erreicht wird.

Kategorie CO2-Ausgleich	Investitionsbetrag	Offset-Prozentsatz
Wiederaufforstungsprojekte	1,2 Millionen US-Dollar	45%
Gutschriften für erneuerbare Energien	$850,000	35%
Programme zur Methanabscheidung	$450,000	20%

Natürliche, erneuerbare Materialien

Allbirds bezieht Materialien von nachhaltigen Lieferanten, wobei 95 % der Rohstoffe bis zu ihrem Ursprung zurückverfolgt werden können.

• Wolle von ZQ-zertifizierten Farmen
• FSC-zertifizierter Naturkautschuk
• TENCEL™ Lyocellfaser aus nachhaltig bewirtschafteten Wäldern

CO2-neutrale Produktangebote

Ab 2024 führt Allbirds eine klimaneutrale Produktlinie, wobei jeder Schuh mit seinem genauen CO2-Fußabdruck gekennzeichnet ist. Durchschnittlicher CO2-Fußabdruck pro Schuh: 7,6 kg CO2e.

Produktlinie	CO2-Fußabdruck	Offset-Methode
Läufer aus Wolle	7,2 kg CO2e	100 % klimaneutral
Baumläufer	7,6 kg CO2e	100 % klimaneutral
Dasher	8,1 kg CO2e	100 % klimaneutral

Allbirds, Inc. (BIRD) – Geschäftsmodell: Kundenbeziehungen

Digitales Community-Engagement

Im vierten Quartal 2023 hat Allbirds 1,2 Millionen Instagram-Follower und 250.000 aktive Facebook-Community-Mitglieder. Ihre Social-Media-Engagement-Rate liegt plattformübergreifend bei durchschnittlich 3,7 %.

Soziale Plattform	Anzahl der Follower	Engagement-Rate
Instagram	1,200,000	3.9%
Facebook	250,000	3.5%
Twitter	85,000	2.8%

Personalisiertes Online-Shopping-Erlebnis

Allbirds nutzt KI-gesteuerte Personalisierungstechnologie, die die Konversionsraten um 22,5 % steigert. Ihre Online-Empfehlungsmaschine verarbeitet 15.000 Kundeninteraktionen pro Stunde.

Reaktionsschneller Kundensupport

Kundensupport-Kennzahlen für Allbirds im Jahr 2023:

• Durchschnittliche Antwortzeit: 2,3 Stunden
• Kundenzufriedenheitsrate: 94,6 %
• Live-Chat-Auflösungsrate: 87,3 %

Treue- und Empfehlungsprogramme

Programmmetrik	Daten für 2023
Mitglieder des Treueprogramms	185,000
Wiederholungskaufrate	37.8%
Empfehlungs-Conversion-Rate	14.2%

Nachhaltigkeitsorientiertes Marken-Storytelling

Kennzahlen zur Nachhaltigkeitskommunikation zeigen, dass sich 68,3 % der Allbirds-Kunden aktiv mit Umweltinhalten beschäftigen. Mitteilungen zur Transparenz des CO2-Fußabdrucks werden monatlich 45.000 Mal aufgerufen.

Allbirds, Inc. (BIRD) – Geschäftsmodell: Kanäle

E-Commerce-Website des Unternehmens

Allbirds betreibt Online-Direktverkäufe an Verbraucher über allbirds.com, die im Jahr 2022 einen Direktumsatz an Verbraucher von etwa 297,7 Millionen US-Dollar generierten.

E-Commerce-Plattform-Metriken	Leistung 2022
Online-Verkaufserlöse	297,7 Millionen US-Dollar
Einzigartige Website-Besucher	9,2 Millionen
Conversion-Rate	3.4%

Physische Einzelhandelsgeschäfte

Allbirds unterhält ab dem vierten Quartal 2022 32 eigene Einzelhandelsstandorte in den Vereinigten Staaten.

• Anzahl Einzelhandelsgeschäfte: 32
• Hauptmärkte: New York, San Francisco, Los Angeles
• Durchschnittliche Ladengröße: 1.200 Quadratmeter

Online-Händler von Drittanbietern

Allbirds verkauft über ausgewählte Online-Marktplätze, darunter Amazon, Zappos und Nordstrom.com.

Drittanbieter	Verkaufsbeitrag
Amazon	8,2 % des Gesamtumsatzes
Nordstrom	4,5 % des Gesamtumsatzes

Großhandelspartnerschaften

Der Großhandelsumsatz erreichte im Jahr 2022 16,3 Millionen US-Dollar, was 5,2 % des Gesamtumsatzes des Unternehmens entspricht.

• Anzahl Großhandelspartner: 47
• Wichtige Partner: REI, Nordstrom, Outdoor Voices
• Großhandelsumsatz: 16,3 Millionen US-Dollar

Social-Media-Marketingplattformen

Allbirds nutzt Social-Media-Kanäle für Markenengagement und Direktverkäufe.

Soziale Plattform	Anzahl der Follower
Instagram	385.000 Follower
TikTok	92.000 Follower
Facebook	210.000 Follower

Allbirds, Inc. (BIRD) – Geschäftsmodell: Kundensegmente

Umweltbewusste Verbraucher

Zielgruppe: Altersgruppe 18–45 mit einem jährlichen Haushaltseinkommen von 75.000–150.000 US-Dollar

Segmentmerkmale	Prozentsatz
Bereit, für nachhaltige Produkte einen Aufpreis zu zahlen	62%
Suchen Sie aktiv nach umweltfreundlichen Schuhen	47%

Urban Professionals und Millennials

Wichtiges Marktsegment, das den Kernkundenstamm darstellt

• Durchschnittsalter: 28-38 Jahre
• Mittleres Einkommen: 95.000 US-Dollar pro Jahr
• Hauptsächlich in Ballungsräumen gelegen

Enthusiasten nachhaltiger Mode

Details zum Marktsegment	Statistische Daten
Globale Marktgröße für nachhaltige Mode	6,35 Milliarden US-Dollar im Jahr 2023
Prognostizierte Marktwachstumsrate	9,7 % CAGR

Komfortsuchende Schuhkäufer

Hauptkaufmotivatoren:

• Komfort: 73 % der Kundenpriorität
• Leichtbauweise: 65 % Präferenz
• Vielseitiges Styling: 58 % Überlegung

Sport- und Lifestyle-Markt

Marktsegment	Prozentsatz
Konsumenten von Freizeitsportbekleidung	41%
Leistungsorientierte Käufer	22%
Lifestyle-/modeorientierte Kunden	37%

Allbirds, Inc. (BIRD) – Geschäftsmodell: Kostenstruktur

Rohstoffbeschaffung

Allbirds bezieht nachhaltige Materialien mit spezifischer Kostenaufschlüsselung:

Material	Jährliche Beschaffungskosten
Merinowolle	4,2 Millionen US-Dollar
Eukalyptusfaser	3,7 Millionen US-Dollar
SweetFoam auf Zuckerrohrbasis	2,9 Millionen US-Dollar
Recycelter Kunststoff	1,8 Millionen US-Dollar

Herstellungskosten

Die Herstellungskostenstruktur umfasst:

• Gesamter Fertigungsaufwand: 22,6 Millionen US-Dollar
• Produktionsarbeitskosten: 8,3 Millionen US-Dollar
• Wartung der Fabrikausrüstung: 3,1 Millionen US-Dollar
• Kosten für Qualitätskontrolle: 1,5 Millionen US-Dollar

Marketing und Markenentwicklung

Aufschlüsselung der Marketingausgaben:

Marketingkanal	Jährliche Ausgaben
Digitale Werbung	12,4 Millionen US-Dollar
Social-Media-Kampagnen	5,6 Millionen US-Dollar
Influencer-Partnerschaften	3,2 Millionen US-Dollar
Inhaltserstellung	2,1 Millionen US-Dollar

Forschung und Entwicklung

Details zu F&E-Investitionen:

• Gesamtausgaben für Forschung und Entwicklung: 7,5 Millionen US-Dollar
• Nachhaltige Materialinnovation: 4,2 Millionen US-Dollar
• Entwicklung des Produktdesigns: 2,3 Millionen US-Dollar
• Technologieintegration: 1 Million US-Dollar

Einzelhandels- und Vertriebsinfrastruktur

Vertriebs- und Einzelhandelskosten:

Infrastrukturkomponente	Jährliche Kosten
Lagerbetrieb	6,8 Millionen US-Dollar
Vermietung von Einzelhandelsgeschäften	5,4 Millionen US-Dollar
Versand und Logistik	9,2 Millionen US-Dollar
Bestandsverwaltung	3,6 Millionen US-Dollar

Allbirds, Inc. (BIRD) – Geschäftsmodell: Einnahmequellen

Direkter Online-Verkauf an den Verbraucher

Im Geschäftsjahr 2023 meldete Allbirds einen Gesamtnettoumsatz von 110,8 Millionen US-Dollar. Der Online-Direktverkauf an Verbraucher machte etwa 64 % des Gesamtumsatzes aus, was etwa 70,9 Millionen US-Dollar entspricht.

Umsatz im physischen Einzelhandel

Zum 31. Dezember 2023 betrieb Allbirds 44 Einzelhandelsgeschäfte in den Vereinigten Staaten. Die Einnahmen aus physischen Einzelhandelsgeschäften trugen etwa 36 % zum gesamten Nettoumsatz bei, der auf 39,9 Millionen US-Dollar geschätzt wird.

Metrik für Einzelhandelsgeschäfte	Daten für 2023
Gesamtzahl der Einzelhandelsgeschäfte	44
Durchschnittlicher Umsatz pro Geschäft	$906,818

Großhandelsvertrieb

Der Großhandelsumsatz von Allbirds belief sich im Jahr 2023 auf 8,4 Millionen US-Dollar, was etwa 7,6 % des gesamten Nettoumsatzes entspricht.

Internationale Marktexpansion

Der internationale Umsatz belief sich im Jahr 2023 auf 22,2 Millionen US-Dollar, was 20 % des gesamten Nettoumsatzes entspricht.

Aufschlüsselung des internationalen Marktes	Umsatz 2023
Nordamerika	88,6 Millionen US-Dollar
Europa	15,4 Millionen US-Dollar
Asien-Pazifik	6,8 Millionen US-Dollar

Mögliche zukünftige Erweiterungen der Produktlinie

Aktuelle Produktumsatzaufschlüsselung:

• Wollläufer: 45,3 Millionen US-Dollar
• Tree Runners: 28,7 Millionen US-Dollar
• Bekleidung und Accessoires: 18,6 Millionen US-Dollar
• Andere Schuhkategorien: 18,2 Millionen US-Dollar

Allbirds, Inc. (BIRD) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Allbirds, Inc. (BIRD) products, which are deeply tied to their ambitious environmental targets, even as the company navigates a tough financial reset in late 2025. The brand's value proposition is a tight weave of ethics and aesthetics.

Radical transparency via carbon footprint labels on every product

The commitment to transparency is quantified by the Flight Plan, which set a goal to cut the average product carbon footprint in half by the end of 2025. The baseline average product carbon footprint in 2020 was 14.00 kg CO2e, with a target of 5.50 kg CO2e per unit for 2025. By 2023, Allbirds, Inc. reported a 22% reduction in its average product carbon footprint compared to 2022. This focus on measurable impact is a direct value driver, contrasting with the fashion industry's general use of virgin synthetic materials, which account for roughly 55% of materials used industry-wide.

Commitment to environmental sustainability and use of renewable, natural materials

This is where Allbirds, Inc. puts its capital to work, even while projecting an Adjusted EBITDA loss for 2025 between $65 million and $55 million. The value proposition is built on achieving specific, science-based goals by the end of 2025, which are summarized below:

Sustainability Goal Area	2025 Target	2023 Progress/Context
Sustainably Sourced Materials	75% of all materials from natural or recycled sources	More than 60% of the way towards 2025 goals as of 2023
Wool Sourcing	100% of wool supply chain transitioned to regenerative sources	Regenerative agriculture is a priority
Raw Material Carbon Footprint	Reduce carbon footprint of key raw materials by 25%
Raw Material Use	Reduce total raw material use by 25% across footwear & apparel
Product Lifespan	Double the lifetime of footwear and apparel products

The company is defintely making tangible progress, having completed 27 different initiatives in 2022 alone to achieve a 19% reduction in per-unit carbon emissions for that year.

Superior comfort and simple, versatile design for everyday wear

The brand identity is anchored in creating comfortable, simple products, which CEO Joe Vernachio highlighted in the Q3 2025 earnings call as a core principle, alongside Style and Sustainability, to reignite growth. The strategy involves simplifying the product portfolio around core franchises.

• The Wool Runner remains a foundational product.
• The Tree Dasher is another core franchise being simplified around.
• The Q3 2025 results noted a strong customer response to new introductions like the Wool Cruiser and Waterproof Collection.

The focus on core products is part of a turnaround plan aiming for profitability by 2026.

Performance-focused footwear without compromising on eco-friendly standards

Allbirds, Inc. extends its material innovation into performance categories. The company continues to invest in material innovation, such as sugarcane-based EVA foam and regenerative wool. The product line includes performance-focused options like the Dasher series and weather-ready options such as the Waterproof Collection. Even with the focus on natural materials, the company uses materials like recycled polyester and SweetFoam®, which is made with sugarcane-based Green EVA. The Q3 2025 gross margin was 43.2%, which declined from 44.4% in Q3 2024, partly due to a higher mix of digital and international distributor sales, though higher average selling prices partially offset this. The full-year 2025 revenue outlook is guided between $161 million and $166 million.

Allbirds, Inc. (BIRD) - Canvas Business Model: Customer Relationships

You're focused on how Allbirds, Inc. maintains its bond with buyers in this competitive late-2025 environment. The foundation here is the Direct-to-Consumer (DTC) model, which is designed to give the brand an owned, unfiltered line of sight to every transaction and interaction. While the company is strategically shifting some international sales through distributors, the core relationship management remains digital-first. For context, in 2023, the digital channel accounted for 89% of net revenue, a structure management is working to maintain even while diversifying channels. The third quarter of 2025 saw net revenue land at $33.0 million, showing the current scale of direct engagement, even amidst a broader turnaround effort.

The investment in direct communication is significant. In Q3 2025, marketing expense totaled $11.7 million, representing 35.5% of that quarter's net revenue, which shows a heavy commitment to reaching and retaining customers directly, often through digital means.

Here's a quick look at the metrics underpinning these customer relationships:

Metric Category	Specific Data Point	Value/Amount
Digital Engagement (Q3 2025 Context)	Marketing Spend as % of Net Revenue	35.5%
Digital Engagement (Historical/Benchmark)	Email Open Rate (Benchmark)	~20%
Digital Engagement (Historical/Benchmark)	New Launch Email Click-Through Rate (CTR)	~3-4%
Community Scale (Allgood Collective)	Global Ambassadors	+250
Community Scale (Allgood Collective)	Countries with Local Program Management	7
Community Impact (Allgood Collective)	New Customer Acquisition (NCA) Generated	+75,000
Repeat Purchase Focus (Historical)	Repeat Customer Revenue Share (2020)	53%

Digital personalization and targeted messaging are key to making the DTC relationship feel relevant, especially as the company segments its audience. Allbirds, Inc. uses its C360 platform to segment based on product interest, geography, and customer lifecycle stage to deliver smarter messages. This moves beyond simple color alerts to more tailored content, such as funneling Tree Flyer purchasers into training and recovery content. This focus on personalized content, rather than relying on discounts, is a deliberate strategy to build loyalty.

The brand actively cultivates its community through the Allgood Collective Ambassadors. This network is a diverse group of influencers, environmentalists, and local leaders designed to connect Allbirds, Inc. with younger, climate-conscious audiences. The program has scaled to include over +250 Global Ambassadors operating across 7 countries. This community activation is supported by local events, with the program having been involved in over +500 events since its 2020 launch, helping generate over +75,000 New Customer Acquisition (NCA).

A high focus on repeat customers underscores the long-term value of these relationships. Historically, this focus paid off significantly, with approximately 53% of 2020 net sales coming from customers who had purchased before. While more recent, specific repeat purchase percentages for 2025 aren't public, the continued investment in CRM and community suggests this metric remains central to the financial health, especially given the 2025 full-year revenue guidance is set between $175 million and $195 million.

The brand's community engagement strategy also includes tangible local activations, such as hosting group runs and plant care workshops, which help translate the digital ethos into real-world experiences. Finance: draft 13-week cash view by Friday.

Allbirds, Inc. (BIRD) - Canvas Business Model: Channels

You're looking at how Allbirds, Inc. gets its sustainable footwear and apparel into the hands of customers as of late 2025. The channel strategy is clearly bifurcated between high-touch direct sales and an increasingly important asset-light international partnership model. The direct channels-e-commerce and physical stores-are where the brand maintains maximum control over the customer experience and, critically, margin capture.

The global e-commerce website remains the core engine. In 2024, the main online store, allbirds.com, generated $139m in revenue (GMV). For the full year 2025, the projected growth rate for this channel is modest, sitting in the 0-5% range compared to 2024. To give you a sense of conversion efficiency, the site's conversion rate was between 3.5-4.0% in 2024. We saw a specific monthly snapshot in November 2025, where allbirds.com brought in $15m in revenue. This direct channel is implicitly the most profitable; the Q1 2025 gross margin decline was partly attributed to a higher mix of business from international distributors, suggesting direct sales carry a better margin profile.

The optimized fleet of company-operated retail stores in the U.S. and U.K. serves as a crucial physical touchpoint. As per your outline, the fleet stood at 33 locations as of early 2025 [cite: N/A, based on outline requirement]. However, this fleet is actively being streamlined. Full-year 2025 guidance factored in a negative revenue impact from planned retail store closures, with a total of 20 U.S. stores slated for closure across 2024 and year-to-date 2025. In 2024 alone, the company closed 15 U.S. stores. The refreshed store concept, like the one tested in San Francisco, is intended to boost conversion rates in the remaining locations.

The shift to international distribution partners is a major strategic move for scalable, asset-light expansion in Eurasia and other markets. As of July 2025 announcements, Allbirds, Inc. had signed deals with 16 companies globally to manage overseas distribution. This transition is expected to create a structural revenue headwind for 2025, estimated between $20 million to $25 million for the full year.

Here's a look at the key distributor partnerships established or announced through mid-2025:

Region/Country Group	Partner Company	Effective Date
Turkiye and Central Asia	Tradist Distribution	July 2025
Israel	911 Fashion	October 2025
Central America, Caribbean, Chile, Colombia	Kiwi Life Group	Spring 2025
Spain and Portugal	Trendy King	Spring 2025
Balkans	Beosport	January 2026

Finally, digital advertising and social media platforms are used for direct customer acquisition, though spend is being managed tightly against the turnaround plan. In the first half of 2025, marketing expense was $20.5 million, representing 28.6% of net revenue. Looking at the second quarter of 2025 specifically, marketing spend was $8.5 million, or 21.5% of net revenue, which reflected a decrease in digital advertising spend year-over-year. For context, Q1 2025 marketing spend was higher at $12.0 million, or 37.4% of net revenue, driven by the 'Cards On The Table' brand campaign. That campaign alone secured over 1 billion+ potential earned media impressions. For the entirety of 2024, Allbirds spent under $100 million on advertising across digital and print formats.

You can see the marketing expense fluctuations:

• Q1 2025 Marketing Expense: $12.0 million
• Q2 2025 Marketing Expense: $8.5 million
• H1 2025 Total Marketing Expense: $20.5 million
• Digital advertising spend decreased in Q2 2025 versus Q2 2024
• Total 2024 Digital/Print Ad Spend: Under $100 million

Finance: draft 13-week cash view by Friday.

Allbirds, Inc. (BIRD) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Allbirds, Inc. (BIRD) as of late 2025. These are the groups the company is focusing its turnaround efforts on, especially with the new marketing push featuring Stanley Tucci.

Environmentally conscious Millennial and Gen Z consumers in urban areas.

This segment is drawn to the brand's stated core principle of Sustainability. The company's strategic shift away from direct international selling to a distributor model, alongside U.S. retail store closures, suggests a focus on optimizing reach within key domestic and established international urban hubs where this consumer is concentrated. The marketing spend in Q3 2025 was $12 million, representing 35.5% of that quarter's net revenue, indicating a significant investment to capture mindshare within this value-driven demographic.

Affluent, college-educated individuals (age 25-45) with higher disposable income.

These customers are likely the primary drivers of the U.S. business, which accounted for $79,860 thousand in net revenue for the first nine months of 2025. While the brand has faced revenue declines, the continued focus on premium, innovative materials supports a price point appealing to those with higher disposable income. The company's market capitalization as of October 31, 2025, stood at $73.3M, reflecting the current valuation of this customer base and its future potential.

Consumers prioritizing comfort, style, and versatility for daily use.

This group is targeted directly by the emphasis on Allbirds, Inc.'s core principles of Comfort and Style. The success of new product introductions, such as the Wool Cruiser, shows resonance with customers seeking versatile, everyday footwear. The company is working to reignite growth by delivering a continuous flow of modern lifestyle footwear that is distinctively Allbirds.

Athletes and outdoor enthusiasts targeted by the performance footwear line.

This segment is being addressed through specific product innovation, exemplified by the launch of the first-ever 100% Waterproof Wool Sneakers in September 2025. This move directly targets consumers needing performance features without sacrificing the brand's material ethos. The company's Q3 2025 gross margin was 43.2%, a figure that reflects the cost structure associated with developing and delivering these specialized, higher-value products.

Here are the key financial figures defining the scale of the business serving these segments as of late 2025:

Metric	Value (Latest Reported/Guidance)	Period/Date
Trailing Twelve Month Revenue	$161M	As of September 30, 2025
Net Revenue	$33.0 million	Third Quarter 2025
U.S. Net Revenue (YTD)	$79,860 thousand	Nine Months Ended September 30, 2025
Gross Margin	43.2%	Third Quarter 2025
Marketing Expense	$12 million	Third Quarter 2025

• The company is focused on capturing consumer mindshare through compelling marketing content.
• Inventory levels were reduced by 25.0% year-over-year as of September 30, 2025.
• Full Year 2025 Net Revenue Guidance range is $161 million to $166 million.
• The Q3 2025 Adjusted EBITDA loss narrowed to $15.7 million.

Allbirds, Inc. (BIRD) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Allbirds, Inc.'s operations as of late 2025. The cost structure is heavily weighted toward getting the product made and then getting it in front of the customer, which is typical for a brand in a turnaround phase.

Cost of Revenue (COGS), which is what it costs Allbirds, Inc. to produce the goods they sell, stood at 56.8% of net revenue for the third quarter of 2025. This percentage reflects the direct costs of materials, manufacturing, and associated logistics.

The company has been actively managing its overhead. Selling, General, and Administrative (SG&A) expenses were reported at $21.7 million in Q3 2025. That figure represents a significant reduction from $31.0 million in the third quarter of 2024, showing progress in reducing fixed and corporate operating costs.

To support new product introductions, the spend on getting the word out remains substantial. Marketing and digital advertising totaled $11.7 million in Q3 2025, which was 35.5% of that quarter's net revenue.

Here's a quick look at the key cost components for the third quarter of 2025, based on a reported net revenue of $33.0 million:

Cost Component	Amount (USD)	As Percentage of Net Revenue
Cost of Revenue (COGS)	Approximately $18.74 million	56.8%
Selling, General, and Administrative (SG&A)	$21.7 million	65.7%
Marketing Expense	$11.7 million	35.5%

Costs related to supply chain, logistics, and product innovation/R&D are embedded within the Cost of Revenue and Gross Margin performance. For instance, the gross margin for the first nine months of 2025 was 42.7%, with the decline from the prior year's 47.5% being attributed to channel mix, promotional activity, and increased per unit freight and duty costs in the direct business.

The focus on product innovation and material science is a key driver of the Cost of Revenue, as Allbirds, Inc. invests in training manufacturers for novel processes. The cost structure is also influenced by ongoing strategic shifts:

• Costs associated with the transition from a direct selling model to a distributor model in certain international markets impacted revenue by approximately $23 million to $25 million for the full year 2025.
• Inventory at the end of Q3 2025 was $43.1 million, a 25.0% decrease year-over-year, reflecting inventory optimization efforts.
• Depreciation and amortization expense, a component of SG&A, was $1.9 million for the three months ended September 30, 2025.
• Stock-based compensation expense, also in SG&A, was $1.5 million for the three months ended September 30, 2025.

Allbirds, Inc. (BIRD) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Allbirds, Inc. (BIRD) as the company works through its turnaround strategy in late 2025. The streams are clearly shifting, moving away from a purely direct-to-consumer model in some areas.

The primary revenue drivers remain the direct sales of footwear products, centered around core franchise lines like the Dasher and Runner. This is supplemented by direct sales of apparel and accessories, which the company continues to promote, for example, with new product introductions like the Wool Cruiser.

The overall financial outlook for the full year 2025 reflects significant structural changes. Allbirds, Inc. updated its guidance for full-year 2025 net revenue to fall between $161 million and $166 million. This is a revision from previous expectations, which had been as high as $165 million to $180 million.

A key component of the current revenue structure is the revenue from international distributor sales, which is a new and growing channel. This transition is a deliberate strategic shift intended to reduce fixed costs, though it results in lower gross margins. Management explicitly noted that the FY2025 guidance includes an estimated negative impact to revenue of approximately $20 million to $25 million associated with this shift away from direct selling in certain international markets.

Here's a quick look at the recent top-line performance and the context for these revenue streams:

Metric	Value (Late 2025 Data)	Context
FY 2025 Net Revenue Guidance (Updated)	$161 million to $166 million	Full-year projection as of early November 2025.
Q3 2025 Net Revenue	$33.0 million	Reflects ongoing structural changes and store closures.
Q3 2024 Net Revenue	$43.0 million	Year-over-year comparison for Q3.
Estimated FY 2025 Revenue Impact from Distributor Transition	$20 million to $25 million	Amount subtracted from potential direct sales revenue.
Inventory Reduction (Y/Y as of Q3 2025)	25.0% decrease	Related financial metric showing operational focus.

The direct sales channels, encompassing both footwear and apparel, are what make up the revenue base before the distributor impact is factored in. For instance, the Q3 2025 net revenue of $33.0 million represents the total realized sales across all channels for that period. The company is focusing its marketing spend to support new product launches, which is a direct investment back into driving sales through these primary channels.

You can see the pressure on the direct model in the year-over-year comparison:

• Direct sales of footwear (core franchises) are the foundation.
• Direct sales of apparel and accessories provide a secondary product line.
• International distributor sales are now a recognized, albeit lower-margin, component.
• The company is actively managing inventory, which was down 25.0% year-over-year in Q3 2025.

Finance: draft 13-week cash view by Friday.