With a current market capitalization of $84.7 million, sustainable footwear brand Allbirds, Inc has signed three new distribution agreements across Eurasia. These new partnerships include Beosport for the Balkans (effective January 2026), 911 Fashion for Israel (effective October 2025), and Tradist Distribution for Turkiye and Central Asia (effective July 2025). These agreements bring Allbirds' total global distribution deals to 16.
Annie Mitchell, CFO, Allbirds, states, the brand’s strategic decision to transition to a distributor model in international geographies is proving to be highly successful. The company has partnered with world-class distributors and extended its brand reach with a profitable operating model" over the last 18 months. However, InvestingPro’s financial health assessment indicates Allbirds faces challenges with cash burn, and analysts anticipate a continued sales decline this year, she adds.
Founded in 1996 and based in Belgrade, Serbia, Beosport specializes in premium sportswear and lifestyle brands in Southeast Europe. 911 Fashion, established in 2001 in Tel Aviv, is a GOTS certified fashion and lifestyle distributor with 35 retail locations in Israel. Tradist Distribution, headquartered in Istanbul, focuses on distributing premium lifestyle, footwear, and bag brands across Turkiye, Eastern Europe, and Central Asia.
Founded in 2015, Allbirds is known for its sustainable footwear design, utilizing materials like Merino wool, tree fiber, and sugarcane.
In Q1 2025, Allbirds recorded net revenue of $32 million, slightly exceeding its guidance midpoint. The company improved its adjusted EBITDA loss by 11 per cent to $19 million, though its gross margin decreased to 44.8 per cent. Allbirds also secured a $75 million asset-based revolving credit facility and launched an At-the-Market (ATM) program to potentially sell up to $50 million in Class A common stock. The brand has also expanded into Central and South America and Southern Europe with Kiwi Life Group and Trendy King. Looking ahead, Allbirds plans over 15 new footwear styles to debut in mid-July and projects full-year 2025 net revenue between $175 million and $195 million, expecting a return to top-line growth in Q4 2025.
