Allbirds, Inc. completed its previously announced agreement with distributor partners in Canada and South Korea. In-Sport Fashions, Inc. is now the brand’s exclusive Canadian distributor and EFG Corp. is its exclusive distributor in South Korea.
The shift from a direct go-to-market model to a third-party distributor model is “one of the key pillars” reported Allbirds under its Strategic Transformation Plan announced earlier this year. The company said it continues to explore distribution opportunities in other international geographies.
“We are pleased to be delivering another material proof point under our Strategic Transformation Plan,” said Annie Mitchell, chief financial officer of Allbirds. “We are looking forward to leveraging the regional knowledge and expertise of our new distributors as we focus on building scale and driving long-term growth in key international markets. Importantly, this operating model will also enable us to reduce costs and improve profitability in these markets.”
Both In-Sport and EFG will oversee the distribution of Allbirds products across the retail, online and wholesale channels and allocate dedicated brand and marketing resources.
Karine Laforest and Andrew Nelson, co-owners of In-Sport, said, “It is a pleasure to collaborate with Allbirds. The brand’s unwavering focus on sustainability, combined with its knack for blending comfort with style, mirrors our own company ethos.”
Jeewoo Park, CEO at EFG, said, “We aim to introduce brands that truly resonate with sustainability to the Korean market. I am incredibly proud that we will represent Allbirds, a perfect fit for the brands we aspire to partner with.”
Photo courtesy Allbirds
