You might be able to get a really cheap exercise dress this week. On Wednesday, the New York Timesreported that Outdoor Voices is set to close all of its stores on Sunday. The company will be transitioning to an online-only business, a pivot that employees were informed of via Slack.
“Outdoor Voices is embarking on a new chapter as we transition to an exclusively online business,” the Slack message to employees read. According to the Times, the news was a surprise to the employees directly affected by this move, who were not offered severance. One employee the Times spoke to said she was offered $500 to continue working for the rest of the week. She described it as a slap in the face, which is reasonable considering that the stores are probably going to be extra hellish for the next few days. In-store products will be discounted 50 percent: a boon to anyone looking for a deal on a matching set, and a nightmare to the person who has to ring everyone up.
The athleisure brand has been on a rocky road since 2020, when the valuation of the company fell to $40 million, far below the $110 million it was worth in 2018. Soon after, founder Ty Haney was forced to step down as CEO. In an interview with the Cut in 2023, Haney voiced her belief that the brand had a notable dip in quality in her absence. “It’s kind of sickening to see how low it’s gotten,” she said. “I feel sad for it.”
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- Outdoor Voices Founder Ty Haney Has Moved On. Mostly.
Olivia Craighead , 2024-03-13 20:13:35
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