Report: Outdoor Voices Weighing the Sale

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Sportswear producer Outdoor Voices plans to put itself up for sale, Bloomberg News reportedciting anonymous sources.

An adviser is helping the company explore options and while selling the closely held business is one option, ownership could choose another path, Bloomberg reported. Another option is to raise new funds.

Sportswear sales soared during the COVID-19 pandemic as workers beefed up their wardrobes at home, Bloomberg reported, but suffered as consumers reacted to recession-related concerns and lower discretionary spending.

Outdoor Voices was founded in 2013 by Tyler Haney. The company is led by CEO Gabrielle Conforti, formerly president of Urban Outfitters. Investors, according to Bloomberg, include: GV, General Catalyst and NaHCO3.

Haney told PYMNTS in 2019 that part of his vision in founding the company was that working out could be a fun and “social” activity rather than a highly competitive one.

Read more: Outdoor Voices’ laid-back approach to workout wear

“I was always an athlete growing up, trail running and playing basketball, but I never resonated with the credo of ‘be faster, better, stronger’ that so many great sportswear brands are built,” Haney said. “In Boulder, recreational activity is an integral part of everyday life — walking, running, hiking, skiing — and activity isn’t necessarily measured by performance, it’s social and fun. I started Outdoor Voices because I wanted an activewear brand that really celebrates taking an active approach with ease.

Haney founded Outdoor Voices in New York, but moved the company to Austin, Texas, for what she said was the city’s embrace of entrepreneurship. The move, she said afterward, paid off — with sales from an Austin store rivaling those at outposts in New York and Los Angeles.

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NEW PYMNTS SURVEY FINDS 3 IN 4 CONSUMERS HAVING HIGH DEMAND FOR SUPER APPS

About: Results from PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed responses from 9,904 consumers in Australia, Germany, UK and USA. and showed strong demand for one super multi-functional app rather than using dozens of individual apps.

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