American Exchange Group partners with WSG Brands on Allbirds acquisition

American Exchange Group (AEG) has announced a new partnership with WSG Brands in finalising the acquisition of Allbirds. The group, which revealed plans to acquire the US footwear brand in March, said it would split ownership and capabilities as part of the deal.

While WSG will serve as a key operating and growth partner, AEG will oversee design and manufacturing of the brand’s footwear. The partnership forms part of AEG’s long-term strategy for Allbirds, centred around strengthening the business under an asset-light model for its next phase of expansion.

The group intends to pursue new opportunities across product, retail, distribution, licensing and international markets, combining its expertise with WSG while preserving Allbirds’ "authenticity and values that have made the brand so distinctive”.

AEG’s chief executive officer, Alen Mamrout, noted that while Allbirds had already built a “globally recognised brand by bringing a distinct point of view to the market”, there was a “compelling opportunity to build on that foundation and unlock the brand’s next phase of growth”.

For AEG, specifically, the acquisition was described as an exciting milestone as the group continues to increase its focus on brands that have “strong consumer relevance, differentiated positioning, and significant long-term growth potential”.

WSG, meanwhile, has been diversifying its own portfolio of brands, having most recently acquired lifestyle label Von Dutch, where it is said to have “successfully executed a licensing-led growth strategy” that allowed for distribution, retail, category and market expansion.

In a statement, WSG Brands founder and CEO, Jack Cheika said: "We believe Allbirds represents one of the most compelling brand opportunities in the market today. The brand has built meaningful awareness and consumer affinity around the world.

“Our vision is to preserve what consumers love about Allbirds while expanding its reach into new categories, markets, and partnerships. Having successfully executed this strategy with Von Dutch, we are excited to begin the next chapter of growth alongside AEG."

Financial details of the transaction were not disclosed. The acquisition was secured alongside a consortium of strategic investors, manufacturers, and operating partners. Further announcements are expected in the coming months.