\n
Cory Baker<\/p>\n
Co-founder and Managing Partner at Consortium Brand Partners<\/p>\n<\/div>\n<\/div>\n\n<\/div>\n
Even before the dramatic closure of its fleet, though, Outdoor Voices had run into problems. The company\u2019s founder, Tyler Haney, resigned in 2020 amid layoffs and her departure became a much talked-about saga as reports surfaced over her clash with then-board chair Mickey Drexler. Soon thereafter, Lunya brand founder Ashley Merrill arrived as chair with a plan to fix the brand\u2019s financials. But four years later, stores were closing and rumors about a possible bankruptcy were circulating.<\/p>\n
To Consortium Brand Partners, though, Outdoor Voices\u2019 problems are fixable.<\/p>\n
\u201cMore often than not, the answer is, \u2018No, it’s not fixable,\u2019\u201d Baker said. \u201cWe pass on an incredible amount of investment opportunities every week. The ones that we dig into are the ones where we believe that the brightest opportunities are just ahead \u2014 and this is one of them. This is not a broken brand. It was a broken business. And that’s a very different thing.\u201d<\/p>\n
Baker says Outdoor Voices has opportunities that go \u201cfar past its own direct channels\u201d and that there\u2019s robust interest from potential wholesale partners in the U.S. and outside it.<\/p>\n
\u201cI think sometimes businesses that are born as DTC brands are almost too precious about being able to sell at other accounts,\u201d Baker said. \u201cBut when you believe in your product and you believe in your brand, then you should make it as easy as possible for the customer to access it wherever they shop. And that’s something we take seriously.\u201d\u00a0<\/p>\n
He added that shoppers can expect \u201ca good deal\u201d of Outdoor Voices showing up in wholesale channels and specialty stores in the next year. Also on tap is a \u201cdeep dive\u201d into product and design, which Baker said can often take a hit when companies experience financial pressures. That is an area Haney has blasted the brand for in recent years on social media, though Baker said the product \u201chas been good\u201d and \u201ccan still even get better.\u201d Shuttering the store fleet was also likely a simple response to financial challenges.<\/p>\n
\u201cI have respect for any company that has to make difficult choices during difficult times, so I understand why it was done,\u201d Baker said of the decision to close down its fleet. \u201cAt the end of the day, we’re very bullish on brick-and-mortar retail, especially on a brand like Outdoor Voices, where I think customers have always gravitated toward the community and oftentimes there’s a real community hub that happens in a retail store.\u201d\u00a0<\/p>\n\nThat\u2019s a long-term plan, though. In the shorter term, Baker sees major category expansion opportunities in areas like swimwear, outerwear, fitness equipment, children\u2019s and accessories, which he sees as spaces Outdoor Voices \u201cdeserves to be in.\u201d Some of those expansions could happen by the holiday quarter this year, though many will likely be next year.\u00a0<\/p>\n
International interest, particularly in South America and Asia, is also causing Outdoor Voices to look beyond the U.S. for growth. That expansion could happen through local retailers and distributors versus Outdoor Voices\u2019 website, though firm plans haven\u2019t been made yet. Before all that, though, Consortium Brand Partners is working on reconnecting with the brand\u2019s customer base.<\/p>\n
\u201cRight now, we really want to focus on ensuring that we have the right product and that we have the right messaging and that we’re talking to the customer again. Because I think for a while that conversation got a little bit quiet for a brand that’s known for its outdoor voice,\u201d Baker said, adding later that it\u2019s \u201ctable stakes\u201d to engage with DTC customers. \u201cEnsuring that we’re giving them an opportunity to see and react to content and to be inspired by products that help move them \u2014 that\u2019s table stakes, but the real growth is going to be in thinking about product categories that are adjacent to the core business.\u201d<\/p>\n
In some ways, Consortium Brand Partners\u2019 work with Draper James provides a roadmap for what is possible at Outdoor Voices. The company spent much of the past year looking at Draper James\u2019 customers and what else they want from the brand, which goes \u201cfar beyond women\u2019s apparel,\u201d according to Baker. The brand expects to expand into adjacent categories like pet, swimwear, home decor and crafts in the next six to 12 months \u201cin a very significant way.\u201d<\/p>\n\n\u201cIt’s because we stopped and really started to understand what’s the DNA of this brand and how far can she stretch her wings?\u201d Baker said of Draper James. \u201cAnd we’re very careful about what category extensions mean and that we don’t go into something that doesn’t make sense for the brand.\u201d<\/p>\n<\/p><\/div>\n
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