Consortium Brand Partners (CBP) a consumer-focused investment management group, has acquired Outdoor Voices, the athleisure lifestyle brand founded in 2013 by Tyler Haney, marking CBP’s second acquisition, following its announcement of a majority stake in Reese Witherspoon’s fashion and lifestyle brand, Draper James in September 2023.
Consortium Brand Partners reported that what drove the acquisition of Outdoor Voices assets was a “focus and opportunity in 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’s [Haney] 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.”
With a growth strategy and global expansion plan reportedly in place, CBP said it intends to focus on “preserving and amplifying the three core pillars which Haney built OV: People, Planet and Product. This commitment aligns with CBP’s core values and further adds to its culture of building strong relationships across its partners and global distributors.”
Jonathan Greller, president and co-founder, Consortium Brand Partners added: “The Outdoor Voices narrative resonates with many. 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.”
Consortium Brand Partners is led by industry veterans Cory M. Baker, Michael DeVirgilio and Jonathan Greller, with a long track record of managing and growing brands and leveraging their collective expertise across operations, marketing and finance to drive growth and success.
Outdoor Voices shuttered all stores in March 2024. Once referred to as a direct-to-consumer darling and valued at $110 million according to Forbes, the activewear brand has had a long fall from its glory days. Fortune cited years of executive reshuffles and acquisition rumors culminated in a very public meltdown in March, when the company laid off most of its workforce.
As previously reported by SGB Media Outdoor Voices had been exploring financial options, including a potential sale, since 2022, The report in late 2022 stated the women’s activewear company had retained an advisor and deliberations were at an early stage.
Haney stepped down in 2020, reportedly due to mounting losses and disagreements with then-chairman, Mickey Drexler, formerly CEO of J.Crew and Gap Inc. The brand was more recently led by Gabrielle Conforti, former chief merchandising officer and president at Urban Outfitters.
Outdoor Voices operated 13 stores at the end of 2022, including two each in Austin, TX and New York City, and one each in Boston, Chicago, Dallas, Denver, Houston, Los Angeles, Nashville, San Francisco, and Washington, DC. Store openings are planned for Charlotte, NC Philadelphia and Minneapolis.
Outdoor Voice’s investors included GV, General Catalyst and NaHCO3.
Winston & Strawn LLP advised CBP in this transaction.
Image courtesy Consortium Brand Partners
