Source: CNBC
Summary
Allbirds, a publicly-held company, is shifting its focus from sustainable shoes to artificial intelligence. The company has struggled to turn a profit despite its popular eco-friendly footwear. According to CNBC, Allbirds’ CEO Joey Zwillinger stated that the company is exploring AI as a new revenue stream. The move comes as the company faces increased competition in the sustainable fashion market.
Our Reading
The trend returns with a new name. Allbirds’ foray into AI is reminiscent of other fashion brands’ attempts to diversify their offerings. The company’s struggle to make sustainable shoes profitable is a familiar story in the fashion industry. Luxury brands have long incorporated technology into their designs, and it seems Allbirds is following suit. The question remains whether AI will be the key to the company’s success.
Author: Evan Null
