Bold Moves at Allbirds: Two New Executives Join the Team
Sports apparel brand Allbirds targets sports industry veterans for key marketing and design positions.
In the heart of a transformation plan, Allbirds unveiled two fresh faces to its executive team. According to a press release on a Wednesday, all eyes are on Kelly Olmstead, who has served as senior vice president of brand and marketing at Allbirds, now stepping up as the new Chief Marketing Officer. At around the same time, Adrian Nyman was welcomed aboard in a newly crafted role: the Chief Design Officer.
Olmstead arrived at Allbirds last year, bringing over 25 years of industry knowledge under her belt. Before jumping aboard the eco-friendly footwear bandwagon, she served as Chief Marketing Officer for popular clothing retailer, Hanna Andersson, and spent two decades at Adidas. Nyman showcases over 20 years of experience and hops aboard from electric vehicle brand Arrival, where he held the position of Chief Brand Officer. He's also known for his longtime stint at Nike.
The Power Duo with a Sports Pedigree
Allbirds is leaning on veterans from the sports apparel and footwear world to beef up its leadership team. With Olmstead and Nyman’s combined 30+ years of experience at heavyweight brands Adidas and Nike, the future seems brighter for the sustainable shoe purveyor.
CEO Joey Zwillinger expressed enthusiasm about the new hires, stating, "We're pumped to strengthen our team with top-notch leaders, especially during this transformation period for Allbirds. Their deep industry savvy, operational skills, and creativity will add serious value as we focus on relaunching the product and the brand in 2024 and beyond."
Allbirds' Challenging Year and the Road Ahead
2023 proved to be a tough year for Allbirds, with the company announcing a revamp strategy, which included scaling back on store openings. The leadership team has had some shakeups, too, with Chief Financial Officer Mike Bufano bidding farewell in the spring, and co-founder Tim Brown swapping his co-CEO title for the Chief Innovation role in May. The company also let go of roughly 21 employees globally last year.
The fourth quarter of 2023 saw a plunge in revenue by 21%, along with a net loss that increased by 25%, amounting to $31.6 million. The next quarter is expected to mirror these results, with revenue potentially falling as much as 22%. To achieve profitability, Allbirds has been expanding its distribution channels, teaming up with retailers like REI, Public Lands, and Zalando in recent years. Making its debut this fall, Allbirds entered the Amazon marketplace.
As Allbirds sets its sights on a comeback, it's diving back into its products, launching an updated version of the original Wool Runner in November and debuting a vintage-inspired sneaker called The Courier in August.
- The new Chief Marketing Officer at Allbirds, Kelly Olmstead, boasts over 25 years of experience, previously serving as Chief Marketing Officer for Hanna Andersson and spending two decades at Adidas.
- Adrian Nyman, the new Chief Design Officer at Allbirds, brings over 20 years of industry experience, having held the position of Chief Brand Officer at electric vehicle brand Arrival and having a long-term tenure at Nike.
- With the addition of Olmstead and Nyman, Allbirds' leadership team is strengthened, as both executives have extensive experience at sports apparel and footwear giants Adidas and Nike.
- CEO Joey Zwillinger is optimistic about the new hires, believing that their combined industry knowledge and creativity will add value as Allbirds focuses on relaunching its product and brand in 2024 and beyond.
- 2023 was a challenging year for Allbirds, with a revamp strategy that included scaling back on store openings, shakeups in the leadership team, and a global workforce reduction.
- To achieve profitability, Allbirds has been expanding its distribution channels, partnering with retailers like REI, Public Lands, Zalando, and debuting on the Amazon marketplace this fall, while also launching updated versions of its original Wool Runner and the vintage-inspired sneaker called The Courier.
