Tyler Hanley, CEO, and founder of the AmericaN athletic brand Outdoor Voices to step down following the struggle to raise more funding at the end of last year amounting to a loss of about $2 million a month in 2019.
Founder of Outdoor Voices to step down. Tyler Hanley, CEO, and founder of Outdoor Voices will step down; however, the executive will apparently remain in the company but in a different role. The American brand, headquartered in Austin, was founded in 2013 by Hanley, the brand gained much prominence among millennials with its bright and colored activewear.
The athletic brand, specializing in sportswear for women experienced some difficulties at the end of last year in which it was losing around 2 million dollars a month with annual sales of around 40 million dollars, according to Business of Fashion.
As of 2018 the company had raised 64 million dollars in funding and had Mickey Drexler as CEO, J. Crew’s former CEO; in 2017 Drexler was promoted to chairman, a role he stepped down from in mid-2019.
The company has eleven stores across North America in locations such as New York, Nashville, San Francisco, among other cities.