Sustainable lifestyle brand Allbirds has granted Belle Group exclusive rights to operate its business in China for the next 10 years, covering retail, online, and wholesale channels. The agreement is now effective, with Allbirds’ six stores in China either being transferred to Belle or set to close, and e-commerce stores transitioning. Allbirds has shifted from a DTC to a distribution model in Canada, South Korea, Australia, and Japan, while retaining its DTC model in the US. In the first quarter, Allbirds’ revenue fell 27.6% YoY to $39.3 million, with a net loss of $27.3 million. The company forecasts 2024 sales between $190 million and $210 million.