Sustainable footwear brand Allbirds has agreed to sell its intellectual property to American Exchange Group (AXNY) for approximately $39 million. The deal is subject to stockholder approval and expected to close in Q2 2026. AXNY, known for accessories design and licensing, plans to leverage its distribution expertise to expand the Allbirds brand. Earlier this year, Allbirds announced plans to close its remaining US stores, redirecting resources toward e-commerce and wholesale. The company reported Q3 sales of $33 million, down 23%, with CEO Joe Vernachio calling the transaction a platform for the brand to “thrive in the years ahead.”

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