Allbirds shares are valued at $1.25 each. When the shoe company went public, shares closed at nearly $29 on the first day.
“As we made those adjacent product development decisions, we unfortunately lost a bit of sight of what our core consumer fell in love with us for in the first place and what they continue to want from us,”But what can Allbirds really do when its core consumer has seemingly grown weary of the brand? Customers are buying $31 less worth of goods in 2022 than they were in 2018,.
As the lucrative heyday of the tech industry settles into a phase of austerity after mass layoffs and bank takeovers, the allure of working in tech — and, by proxy, signifying your place in this world — has vanished. As , the shoes are “the Khakis of this generation” — just another piece to place yourself in the “herd” of other techies.
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