Allbirds, the sustainable footwear maker co-founded by ex-All White Tim Brown, says it has sold its 'intellectual property and certain other assets' for $68 million.

The process is expected to be completed by April 24, followed by a distribution to shareholders.

Its fourth-quarter earnings call was cancelled and no financials will be released for the period.

Massey University marketing professor Bodo Lang unpacks what went wrong with Allbirds - after the company began with such a strong start.

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