Floating Feedback: Allbirds' Executive Shuffle: Setting the Stage for Growth and Transformation
Briefing the Scoop
Sports shoe brand Allbirds seeks expertise from sports industry veterans for top marketing and design positions.
After announcing a transformation plan, sustainable footwear and apparel brand, Allbirds, has stepped up its game with two new upper management appointments. As per Wednesday's press release, Kelly Olmstead and Adrian Nyman have joined the team in the newly created roles of Chief Marketing Officer and Chief Design Officer, respectively.
Rewinding the Resumes
Kelly Olmstead, previously Senior Vice President of Brand and Marketing at Allbirds, slipped into her new role in December last year. With over 25 years of experience under her belt, Olmstead previously served as Chief Marketing Officer at Hanna Andersson and spent two decades at Adidas. As for Adrian Nyman, he joined Allbirds around the same time, boasting over 20 years of experience and hailing from electric vehicle brand Arrival, where he was Chief Brand Officer. Being a veteran at Nike, he also carries valuable insights from his prolonged tenure there.
Who’s Calling the Shots Now?
Allbirds seems to be tapping into the wealth of knowledge from sports apparel and footwear powerhouses. With Olmstead and Nyman on board, they collectively bring more than 30 years of experience at Adidas and Nike to the table.
"Booyah! We're psyched to beef up our squad with two heavyweight veterans at a pivotal time for Allbirds," CEO Joey Zwillinger is quoted saying in a statement. "These seasoned experts' deep industry knowledge, operational chops, and creativity will be a game-changer as we refocus on product, brand, and consumer energy for the years ahead. Bring on that brand momentum, y'all!"
The Stormy Seas of 2023
2023 was a bumpy ride for Allbirds. In March, the company announced a transformation plan that included scaling down on store openings. Allbirds' leadership team underwent some turbulence too, with Chief Financial Officer Mike Bufano bailing out this spring, and co-founder Tim Brown shuffling his duties from co-CEO to Chief of Innovation in May. Job cuts were also on the horizon, with about 21 employees getting the ax globally last year.
Keeping it Real, or Falling Flat?
In the brand's most recent quarter, revenue plummeted 21% and net loss climbed up 25%, reaching a whopping $31.6 million. The Q4 figures are projected to follow a similar trajectory, with a 22% drop in revenue on the cards. To combat these troubles and pave the way to profitability, Allbirds has been expanding its distribution channels, teaming up with retailers like REI, Public Lands, Zalando, and more recently, Amazon.
Stepping it Up: A New Lease on Life for Allbirds
Allbirds has been working hard to breathe new life into its product offerings. In November, they re-launched an updated version of their original Wool Runner, and in August introduced a vintage-inspired sneaker called The Courier. As Allbirds battles through choppy waters, it seems that these new appointments are part of a strategic move to stay afloat and emerge stronger in the competitive sustainable fashion industry.
- In alignment with their transformation plan, Allbirds has appointed two executives from sports apparel and footwear brands, aiming to infuse knowledge and boost growth.
- Joining as Chief Marketing Officer in December, Kelly Olmstead brings over 25 years of experience, having previously worked at Adidas and Hanna Andersson.
- Adrian Nyman, a former Chief Brand Officer at electric vehicle brand Arrival and a veteran at Nike, took on the role of Chief Design Officer around the same time.
- With significant experience from Adidas and Nike, Olmstead and Nyman collectively contribute more than 30 years of expertise to Allbirds.
- Citing the new appointments as a game-changer, CEO Joey Zwillinger expressed enthusiastic expectations for the future.
- In a bid to recover from financial struggles and compete in the sustainable fashion industry, Allbirds has announced several new product launches in 2023, aiming to remain competitive and profitable by 2024.
