Outdoor Voices, an online startup that sells athletic and leisure wear, received a $7 million investment.
Investors are looking for a piece of the wildly popular and growing athleisure wear business that earned Lululemon a $7.4 billion valuation in public markets, and has recently been joined by other brands including Kate Spade, Victoria's Secret, Nike (NYSE:NKE), Under Armour (NYSE:UA), Dick's Sporting Goods and Abercrombie & Fitch (NYSE:ANF).
Outdoor Voices is working to establish itself in the athletic apparel market, TechCrunch reported. The company was founded in 2013 as a way for Tyler Haney, CEO and founder, to integrate her passions for fitness and design.
"I was always an athlete growing up, running track and playing basketball, but never resonated with the credo to be 'faster, better, stronger' that so many major activewear brands are built around," Haney told TechCrunch. "Activity isn't necessarily measured by performance, it's social and fun. I started Outdoor Voices because I wanted an activewear brand that really celebrated approaching activity lightheartedly."
The company received $1.1 million in funding in April and began its quest for expansion. Now with fresh financing, the retailer plans to open new brick-and-mortar locations and build out staff. The company currently has one store in Austin, Texas, and will open a pop-up shop in New York in November.
Currently, most of the Outdoor Voices' sales are online. Top cities for online sales are New York, Los Angeles, San Francisco and Austin.
-See this TechCrunch article
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