About one year after Allbirds opened up its first New York concept shop, the sneaker startup is cutting the ribbon on an even bigger store. The three-year-old shoe company's new flagship location is in Manhattan's SoHo neighborhood on Spring Street. It will include the company's "service bar," where customers can get one-on-one consultation with an Allbirds expert.
The new, 4,800-square-foot space will replace the 900-square-foot store on Prince Street, which will close later this week.
San Francisco-based Allbirds — known for making casual sneakers out of merino wool — currently has about $27.5 million in venture capital at its disposal. It has also been profitable since it first launched in 2015.
Brown expects to open up more U.S. retail stores as well since capital from its series B funding round will be used to fund an international expansion effort.
The strategy flies in the face of everything we're seeing from the big-name retailers scrambling to close storefronts. Sears and J Crew have been closing stores, while so-called "e-tailers" like Allbirds, Warby Parker, Casper, Everlane, Untuckit and Bonobos are really starting to grow (h/t CNBC).Read Complete Article