Sustainable footwear and clothing brand Allbirds opens new store in Paramus
Manufacturer of eco-friendly sneakers Allbirds Inc. opened a new retail store and community center at Garden State Plaza in Paramus on Friday. It is the brand’s first store in New Jersey and 35th globally, with locations in North America, Asia and Europe.
The new 3,140 square foot space is a testament to the brand’s sustainable focus, which has motivated its development and use of natural materials as a replacement for petroleum-based synthetic fibers.
The new location features nods to the local community with Jersey Shore laces, a unique pin design inspired by the Jersey Shore boardwalk, and limited edition Allbirds New Jersey reusable tote bags.
Allbirds was founded in 2015 by co-CEOs Joseph Zwillinger and Timothy Brown, a former New Zealand football player. The duo researched and tinkered with the properties of merino wool to create a fabric specially designed for footwear; it has since evolved to include a knitted eucalyptus fiber fabric and sugarcane-based EVA foam, SweetFoam. In 2019 Allbirds became 100% carbon neutral through a self-imposed carbon tax, and in 2020 the brand began labeling all products with a carbon footprint. Customers can see the carbon footprint of each product clearly displayed.
Last week, Allbirds said it was targeting a valuation of up to $ 2.2 billion in its initial public offering. The brand said it was offering 19.2 million shares at a price of between $ 12 and $ 14. At the top of that range, Allbirds would bring in around $ 269 million when it debuted in the market.
Allbirds has yet to give a date for its IPO.