US-based American Exchange Group (AEG) has announced a new partnership with WSG Brands to complete its acquisition of Allbirds. The group had already announced plans to take over the US shoe brand in March. As part of the agreement, ownership and responsibilities are to be divided.
While WSG will act as a key partner for operations and growth, AEG will handle the design and manufacturing of the brand’s shoes. The partnership is part of AEG’s long-term strategy for Allbirds. This aims to strengthen the business with an asset-light model for the next expansion phase.
The group aims to pursue new opportunities in product, retail, distribution, licensing and international markets. She will combine her expertise with that of WSG. At the same time, the “authenticity and values that have made the brand so distinctive” should be preserved.
Alen Mamrout, Chief Executive Officer (CEO) of AEG, noted that Allbirds has already built a “globally recognized brand with a clear positioning in the market.” He sees a “promising opportunity to build on this foundation and initiate the brand’s next phase of growth.”
For AEG itself, the takeover was described as an important milestone. The group is increasingly focusing on brands with “strong consumer relevance, differentiated positioning and significant long-term growth potential.”
WSG, meanwhile, has diversified its own brand portfolio. Most recently, the company acquired the lifestyle brand Von Dutch. There it is said to have “successfully implemented a license-supported growth strategy” that enabled expansion in sales, retail, categories and markets.
In a statement, Jack Cheika, founder and CEO of WSG Brands, said: “We believe Allbirds represents one of the most compelling brand opportunities in the market today. The brand has built significant global recognition and strong customer loyalty.”
“Our vision is to preserve what consumers love about Allbirds while expanding reach into new categories, markets and partnerships. Having successfully executed this strategy at Von Dutch, we look forward to embarking on the next chapter of growth together with AEG.”
Financial details of the transaction were not disclosed. The takeover was secured together with a consortium of strategic investors, manufacturers and operational partners. Further announcements are expected in the coming months.
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