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The CEO of Outdoor Voices is reportedly stepping down as company losses rack up


Added 02-21-20 07:14:02am EST - “31-year Tyler Haney, who founded the brand in 2014, will reportedly stay on at the company but in a different role.” - Businessinsider.com

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Posted By TheNewsCommenter: From Businessinsider.com: “The CEO of Outdoor Voices is reportedly stepping down as company losses rack up”. Below is an excerpt from the article.

31-year Haney, who founded the brand in 2013, will stay on at the company but in a different role, Business of Fashion reported early Friday morning. 

A spokesperson for the company was not immediately available to comment when contacted by Business Insider. 

Outdoor Voices has become a popular choice in recent years for trendy millennials with its brightly colored activewear that's targeted toward everyday exercise – jogging or walking the dog, for example.

As of 2018, the company had raised $64 million in funding and counted Mickey Drexler, the former longtime J.Crew CEO, among its investors. Drexler became chairman of its board in 2017 but stepped from this role in mid-2019, according to Business of Fashion. 

Sources told Business of Fashion that the company struggled to raise more funding at the end of last year and was losing around $2 million a month in 2019 with annual sales of around $40 million. 

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