Dive Brief:
- Allbirds released an updated version of its first-ever shoe, the Wool Runner, according to a post on the brand’s website Friday.
- The $110 Wool Runner 2 features 15 new innovations and upgrades, including a refined version of its SweetFoam midsole, improved durability partly due to re-engineered quarter reinforcements, an updated design approach with a new midsole look and more.
- The lifestyle brand initially launched the Wool Runner in 2016 and sold out within days. The new version is available for purchase at Allbirds stores and online.
Dive Insight:
Allbirds’ new product release follows months of strategic changes at the company.
“The Wool Runner 2 is a dramatically improved product experience. We focused our innovation engine on harnessing some of the world’s most sustainable materials, alongside the many lessons we’ve gained over the last seven years,” Joey Zwillinger, co-founder and CEO at Allbirds, said in a statement. “We’re retaining the understated design of the iconic Wool Runner, while offering a modern aesthetic to meet the needs of today’s customers, coupled with dramatically increased durability and comfort.”
The original Wool Runner came about as an idea from New Zealand soccer player Tim Brown, who is Allbirds’ co-founder and chief innovation officer. The executive initially launched what would become the shoe with a $450 budget and a video filmed on a family friend’s farm.
Brown stepped down from the co-CEO role in May to become the chief of innovation as the brand announced it enacted layoffs impacting 21 employees. The executive switch-up came as Allbirds embarked on a transformation plan to improve its path toward profitability.
Allbirds’ second-quarter earnings in August revealed that net revenue dropped 9.8% year over year to $70.5 million while net loss improved 1.5% to $28.9 million. The brand also announced it would alter its international model, entering into agreements to change its Canadian and South Korean operations from a direct go-to-market model to a third-party distributor model. Distribution deals in the countries with In-Sport Fashions Inc. and EFG Corporation were completed in September.
The second iteration of the Wool Runner comes more than two months after Allbirds released a new shoe style, the $125 Courier. The vintage-inspired sneaker launched in five colorways and features materials such as organic cotton canvas.
