Outdoor Voices nabs $34 million in funding, plans more stores
Outdoor Voices, much like its fitness-fueled customers, isn’t slowing down.
The cult athleisure label just raised $34 million in a series C round, totaling $57 million to date, reports CNBC. The latest round was led by GV (formerly known as Google Ventures), which previously invested in Jet.com and Blue Bottle Coffee.
Founded in 2014, Outdoor Voices has become a fashion darling thanks to its minimalistic aesthetic and matching sets, and has made considerable inroads with the boutique gym crowd. The brand’s $80-$95 high-waisted leggings have been spotted on the likes of Lena Dunham and Gwyneth Paltrow, and the company is often heralded for “taking on Lululemon.”
While the 2016 Most Innovative Company already has seven stores–in New York, California, Texas, and Colorado–founder and CEO Tyler Haney is planning a more aggressive expansion. She told CNBC the startup intends to open five more shops by the end of 2018, and ideally wants one built in every state in the coming years.
“We’re focused on building the No. 1 digital active brand,” said Haney. “This definitely requires a physical presence. … Doing things in real life definitely works and unlocks markets online.”