Sustainable Shoes Big Name Struggles with Huge Loss in Value

A once-famous shoe brand from California just got sold at an incredibly low price. It was worth billions at its peak but now its entire company is changing hands for just $39 million. The brand made shoes from wool and eucalyptus, attracting eco-conscious buyers in tech hubs like Silicon Valley. Stars and influencers once loved the brand, boosting its green image. Yet despite its early success, the company couldn’t keep growing. Sales dropped sharply after a peak in 2021 when it was valued at $4 billion.The company’s money troubles are clear. In late 2025, it only made half the revenue it did in the same period four years earlier. Its stock price fell over 10% after a planned earnings talk got canceled. The problems aren’t new — the brand has been shifting strategies for years. It started by selling directly to customers online but later moved to traditional stores. Even big-name fans like Leonardo DiCaprio couldn’t save the business from sliding profits. Other products like sugarcane flip-flops and wool pants failed to attract enough buyers.