Allbirds Bets on Bricks and Mortar

Allbirds (San Francisco), which raised $100 million in funding last week, is relying on brick-and-mortar stores despite the pandemic, reports The Financial Times. The latest round of funding brings the wool sneaker brand’s valuation to $1.7 billion.

The new funding will help support the brand’s expansion of physical stores outside the U.S. and will also allow for increased staffing. “It sounds crazy in this environment but we are really committed to that channel. We think [shopping in stores] is going to come back,” co-founder Joey Zwillinger said.