It turns out that not everyone wants to dress head-to-toe in merino wool, which although better for the environment than nylon or polyester, isn’t as durable
After the initial success of its original shoe, the Wool Runner, Allbirds tried to expand beyond its base of 30- and 40-year-olds to attract younger customers with more technical running shoes and other sneakers in brighter colors and edgier patterns. It also pushed into new categories—underwear, puffer jackets and golf shoes—but struggled to replicate the success of its first shoe.
Zwillinger, left, and Brown, were millionaires many times over on paper when Allbirds went public. Their holds are worth much less currently, and the founders described it as a humbling experience. Allbirds eventually enlisted the help of the Boston Consulting Group to conduct a study of thousands of consumers. The conclusion: It must go back to its roots. Zwillinger unveiled the new strategy to analysts in March telling them that as the company tilted younger, it lost focus on its core shopper.
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