Outdoor Voices Raises $34 Million for Comfy Workout Clothes
Fitness apparel maker Outdoor Voices has announced that it has raised $34 million to further increase its portfolio and introduce new active wear for – Doing Things Daily – as it suggests.
The Series C fund raising is backed by venture capitalists including GV, and further includes investments from J.Crew’s former CEO Mickey Drexler who is now the chairman of Outdoor Voices.
The company has earlier raised over $56 million in investments from investors including Forerunner Ventures, General Catalyst and others.
Most of the venture capital firms didn’t think earlier that investing in making workout clothes was a good investment. But, with rapid increase in online sales that allow businesses to directly reach their consumers, more and more companies are coming forward to invest in these kind of businesses.
Outdoor Voices dubs its clothing line as technical apparel and touts over its research and development behind the making of its durable clothing.
While it online presence seems to be expanding, the company is also looking its rapid growth offline.
Speaking about the company’s expansion plans both offline and online, the company’s CEO Tyler Haney said last year that word-of-mouth advertising also played a major role in the business growth. She is also the co-founder of the company.
The company believes that its ‘Athliesure’, which depicts the company’s athletic leisure wear, will eventually change the trend how people will see and wear everyday casualwear. As of now, Outdoor Voices has limited its apparel line to just running wear.