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ADIDAS AG

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Real-time Estimate Quote. Real-time Estimate Tradegate - 10/19 11:49:27 am
268.425 EUR   -0.82%
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10/15ADIDAS AG : Release of a capital market information
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Footwear startup Allbirds touts ESG focus as it files for IPO

08/31/2021 | 12:23pm EDT
FILE PHOTO: A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City

(Reuters) - Franklin Templeton-backed Allbirds said on Tuesday it has filed for a U.S. initial public offering, as the wool footwear maker looks to cash in on the growing global demand and investor interest for sustainable products.

In the filing, Allbirds said it hopes to help pioneer a framework to conduct the first-ever "sustainable public equity offering," a process the retailer set up with an advisory group that shows it meets environmental, social and governance (ESG) criteria.

Allbirds said that as part of its IPO process sustainability ratings firm ISS ESG assessed whether it met the criteria for a sustainable public equity offering.

The footwear company set up the process with an advisory council hosted by sustainable business organization BSR, one of its investors and ESG ratings agencies.

Other sustainability-focused startups that recently tapped into capital markets include Hollywood star Jessica Alba's Honest Co and Oprah Winfrey-backed Oatly Group AB. Plant-based burger maker Impossible Foods is looking at a number of ways to go public, Reuters reported in April.

Allbirds is also a certified B corp and public benefit corporation, which allow its board to balance generating returns for shareholders and conserving the environment.

Founded by co-Chief Executive Officers Joseph Zwillinger and Timothy Brown, a former New Zealand soccer player, Allbirds is known for the use of sustainable materials in its products.

Brown researched and tinkered with the properties of merino wool and eventually teamed up with Zwillinger to craft a fabric made specifically for footwear.

Allbirds, whose backers include Oscar-winning actor Leonardo DiCaprio, also uses a plant-based alternative to leather for its shoes. It has also partnered with Adidas to create a range of sustainable sneakers.

The company reported a more than 25% jump in net revenue for the first six months of 2021, while net loss widened to $21.1 million during the period.

Morgan Stanley, J.P. Morgan and BofA Securities are lead underwriters on the offering.

(Reporting by Jessica DiNapoli in New York and Noor Zainab Hussain and Sohini Podder in Bengaluru; Editing by Shailesh Kuber, Ramakrishnan M. and Mark Porter)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADIDAS AG -0.85% 268.35 Delayed Quote.-9.15%
OATLY GROUP AB 1.86% 14.5249 Delayed Quote.0.00%
THE HONEST COMPANY, INC. 1.40% 9.33 Delayed Quote.0.00%
All news about ADIDAS AG
10/15ADIDAS : Goldman Sachs remains its Buy rating
MD
10/15ADIDAS : Xinjiang-born Chinese basketballer punished for signing with Adidas
AQ
10/15ADIDAS AG : Release of a capital market information
DJ
10/14Adidas Launches Additional EUR450 Million Share Buyback
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10/08KUDELSKI : Adidas Enter Technology, Intellectual Property License Deal
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10/07THREDUP : Resale-as-a-Service Platform Powering Adidas' New Resale Program
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10/07Kudelski Group Concludes a Technology and Intellectual Property License Agreement with ..
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10/07ADIDAS : Gets a Neutral rating from RBC
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10/06Factbox-How COVID-19 in Southeast Asia is threatening global supply chains
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10/05ADIDAS : Vietnam to miss garment export target, faces labour shortage
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Analyst Recommendations on ADIDAS AG
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Financials
Sales 2021 21 562 M 25 111 M 25 111 M
Net income 2021 1 500 M 1 747 M 1 747 M
Net cash 2021 424 M 493 M 493 M
P/E ratio 2021 35,6x
Yield 2021 1,19%
Capitalization 52 294 M 60 679 M 60 901 M
EV / Sales 2021 2,41x
EV / Sales 2022 2,18x
Nbr of Employees 58 007
Free-Float 86,9%
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Technical analysis trends ADIDAS AG
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Last Close Price 270,65 €
Average target price 327,43 €
Spread / Average Target 21,0%
EPS Revisions
Managers and Directors
Kasper Bo Rørsted Chief Executive Officer
Harm Ohlmeyer Chief Financial Officer & Labor Director
Thomas Hermann Rabe Chairman-Supervisory Board
Martin Shankland Head-Global Operations
Roland Nosko Member-Supervisory Board
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