Sports apparel brand, Allbirds, seeks sports industry veterans for key marketing and design roles.
💥 Switchin' Things Up at Allbirds 💥
Up Close:
Allbirds revealed two fresh additions to its executive roster in a recent press release, asserting that Kelly Olmstead and Adrian Nyman have joined the team.
- Kelly Olmstead climbed her way up from senior vice president of brand and marketing to the esteemed position of chief marketing officer in December. Olmstead brags a decade of experience at sportswear colossus Adidas and stints at Hanna Andersson as their chief marketing officer.
- Adrian Nyman, who joined around the same time, secured himself the newly created role of chief design officer. With over 20 years in the industry, he made his mark at Arrival, where he served as chief brand officer. Nyman is no stranger to Nike, clocking in numerous years with the sports apparel bigwig.
Peeping Behind the Curtains:
Allbirds is crafting its leadership team with a sportswear pro duo, Olmstead and Nyman. Between them, they've got more than three decades of experience in the realm of Adidas and Nike.
CEO Joey Zwillinger couldn't be happier: "We're stoked to beef up our team with heavy-hitters, especially in these transformative times. Their extensive experience and creativity will be priceless as we push to revamp product and brand and sustain our momentum."
Not So Sweet '23:
2023 presented some challenges for Allbirds, which, in March, announced a transformation plan that included severely limiting store openings. The leadership team has been shuffling positions, too: CFO Mike Bufano bailed in spring, and co-founder Tim Brown traded in his co-CEO post for the role of chief of innovation in May. In 2021, Allbirds trimmed its workforce, letting go about 21 employees globally.
Numbers Aren't on Our Side:
In its most recent quarter, revenue tumbled by a staggering 21% and net loss swelled by 25%, reaching an eye-popping $31.6 million. The fourth quarter is projected to mirror the trend, with potentially a 22% drop in revenue. To get back on track, Allbirds has expanded distribution points, striking deals with retailers like REI and Zalando. Just this fall, Allbirds dipped its toes in Amazon's waters.
Bringing Back the Classics:
The company has pivoted towards some familiar favorites, unveiling a revamped version of its original Wool Runner in November and debuting a vintage-inspired sneaker, The Courier, in August.
Word on the street is that Allbirds is now tightening its focus on core products and retail partnerships while revising its expansion plans for stores in markets like Germany. Allbirds' success hinges on the effectiveness of these strategies moving forward.
[1] Source: Wall Street Journal, CBS News, Yahoo Finance, The Motley Fool, Business Insider, MarketWatch, Nasdaq, Investopedia, FactSet.
- In 2024, the profitability of Allbirds might depend on the success of its strategies focusing on core products and retail partnerships, as reported by various finance and business sources.
- Adrian Nyman, now the chief design officer at Allbirds, boasts over 20 years of experience in the sports industry, having worked for companies like Arrival and Nike.
- Allbirds' leadership team addition in 2023 included Adrian Nyman and Kelly Olmstead, both of whom have extensive experience in the sports industry, having previously worked for Adidas and Nike respectively.
- Despite facing challenges in 2023, such as limiting store openings and key executive departures, Allbirds continues to explore new avenues for expansion, like partnering with retailers like REI and Zalando, and entering markets like Germany.
- In an update, Allbirds announced the appointments of Kelly Olmstead as chief marketing officer and Adrian Nyman as chief design officer, following their respective careers at Adidas and Nike.
- The technology sector might play a significant role in Allbirds' plans to revamp its products and brand, as suggested by CEO Joey Zwillinger in a recent statement.
