For the past few years, American Exchange Group has been on a shoe deal streak, snapping up the Aerosoles and White Mountain brands in 2022, followed by Island Surf Co. in 2024. But in June 2026, the New York-based footwear, beauty and accessories company landed its boldest — and most controversial — acquisition yet, when it bought Allbirds' intellectual property for $65 million in cash and the assumption of debt, through a joint venture with brand management firm WSG Brands. (Meanwhile, former parent Allbirds Inc. pivoted its business to AI compute infrastructure under the moniker NewBird AI.) "The deal got a lot of attention all over the world," said Alen Mamrout, founder and chief executive officer of American Exchange Group. "They were talking about it in China, in Japan, in Korea, in the Middle East. It gave me a lot of PR — more than I would like because most of the time I try to fly under the radar." So long to that low profile. Mamrout and his team have big plans to rebuild the Allbirds brand after its well-documented collapse. Retailers and market pundits will undoubtedly be watching their every move closely, starting in fall 2027, when American Exchange will debut
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