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Dive Brief:
- In the midst of a transformation plan, Allbirds has made two new executive appointments, the retailer announced in a press release Wednesday.
- Kelly Olmstead, who was senior vice president of brand and marketing at Allbirds already, became chief marketing officer in December, while Adrian Nyman joined around the same time in the newly created role of chief design officer.
- Olmstead joined Allbirds last year and has more than 25 years of experience, including as chief marketing officer of Hanna Andersson and two decades at Adidas. Nyman touts more than 20 years of experience and joins from electric vehicle brand Arrival, where he was chief brand officer. He is also a longtime Nike veteran.
Dive Insight:
Allbirds is turning to a pair of sports apparel and footwear veterans to build out its leadership team. Olmstead and Nyman combined have more than 30 years of experience at sportswear giants Adidas and Nike.
“We are thrilled to be further strengthening our team with highly accomplished leaders, particularly during this transformational time for Allbirds,” CEO Joey Zwillinger said in a statement. “Their deep industry expertise, operational capabilities, and creativity will add tremendous value as we continue to focus on reigniting product and brand in 2024 and beyond. As we bring new innovation to the market, their respective backgrounds will further our ability to drive brand momentum through product and marketing, and energize consumers.”
2023 was a difficult year for the sustainable shoe retailer, which in March announced a transformation plan that included cutting back significantly on store openings. The company’s leadership team has also been in flux, with Chief Financial Officer Mike Bufano leaving this spring and co-founder Tim Brown swapping his co-CEO title out for the chief of innovation role in May. On top of that, Allbirds laid off about 21 employees globally last year.
In the brand’s most recent quarter, revenue plummeted 21% and net loss increased by 25%, reaching $31.6 million. The fourth quarter is expected to produce similar results, with revenue projected to fall as much as 22%. In its quest for profitability, the company has been expanding its distribution points, adding wholesale partners like REI, Public Lands and Zalando in recent years. Just this fall, Allbirds began selling on Amazon.
As Allbirds looks to turn things around, the brand has taken an eye back to its product offering, releasing an updated version of its original Wool Runner in November. The company in August also launched a vintage-inspired sneaker called The Courier.
via https://www.aiupnow.com
Cara Salpini, Khareem Sudlow
