Allbirds, the eco-chic footwear brand co-founded by former All White Tim Brown, has agreed to sell its 'intellectual property and certain other assets' to American Exchange Group.

The brand will be sold for an estimated value of $68 million NZD - a fraction of the company's original net worth.

NZ Herald senior business writer Chris Keall says the company's been in decline for years - with too many key factors going wrong. 

"The overarching thing is that it's never been able to make a profit, but it's making sustainable shoes from New Zealand merino wool and recycled materials - but not at a sustainable price."

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Allbirds, the eco-chic footwear brand co-founded by former All White Tim Brown, has agreed to sell its 'intellectual property and certain other assets' to American Exchange Group.
The brand will be sold for an estimated value of $68 million NZD - a fraction of the company's original net worth.
NZ Herald senior business writer Chris Keall says the company's been in decline for years - with too many key factors going wrong.&nbsp;
"The overarching thing is that it's never been able to make a profit, but it's making sustainable shoes from New Zealand merino wool and recycled materials - but not at a sustainable price."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Chris Keall: NZ Herald senior business writer on the rise and fall of Allbirds

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a72031c2-d961-4392-90da-b41f006fa1e7/transcript