Direct-to-consumer brand Outdoor Voices acquired by investment fund
A struggling direct-to-consumer brand which recently shuttered all its physical stores has a new owner.
Outdoor Voices, which closed all brick-and-mortar stores and transitioned to an exclusively online business in March 2024, has been acquired for an undisclosed sum by Consortium Brand Partners, a consumer-focused investment fund management firm. This marks the firm's second acquisition, following its announcement of a majority stake in Reese Witherspoon’s fashion & lifestyle brand Draper James in September 2023.
According to Consortium, its acquisition of the Outdoor Voices assets is driven by planned category growth and global expansion for the brand, while strategically leveraging owned channels for enhanced market penetration and brand visibility.
"We feel incredibly fortunate to become the next stewards of this very special brand," said Cory M. Baker, founder and managing partner of Consortium Brand Partners. "Tyler Haney’s vision to build Outdoor Voices on a foundation of deep human connection and a genuine love for movement created something truly beautiful and unique in Outdoor Voices. We are committed to engaging the brand’s loyal community to ensure they can continue to enjoy products and experiences that celebrate the recreationalist and outdoor enthusiast."
Outdoor Voices – a brief history
Based in Austin, Texas, Outdoor Voices was founded in 2014 by Ty Hanley with a tagline of #DoingThings. Known for its muted tones and color-blocked leggings, the brand was a savvy user of social media, where its customers would share images of themselves participating in athletic activities. The company also hosted exercise classes and other events.
Several years after it was founded, Outdoor Voices found itself on the fast track, with a devoted following. In 2017, former Gap Inc. CEO Mickey Drexler, was appointed chairman; in 2018, the company had a $110 million valuation. In 2019, the brand was the subject of a profile in the New Yorker magazine that compared it to Lululemon.
Outdoor Voices’s expansion into brick-and-mortar was marked by stylish stores, with no two alike, in high-profile urban locations that included Austin, New York City, Boston, Chicago, San Francisco and more.
But the brand ran into trouble amid increased competition, too-rapid expansion and product missteps. Haney was forced out as CEO in 2020. In February 2021, Gabrielle Conforti joined Outdoor Voices as CEO, after spending the last six years at Urban Outfitters.
"The Outdoor Voices narrative resonates with many," said Jonathan Greller, president and co-founder of Consortium Brand Partners. "It’s a successful brand with a passionate and dedicated consumer who wears and loves the product, but it’s a brand that faced challenges within its business framework. As of today, Outdoor Voices is the healthiest it’s ever been, and we have already begun positioning it for continued growth domestically and internationally, spanning its core offerings and new categories that authentically embody its brand ethos."