Outdoor Voices is finally in the black.
After a period of turmoil and escalating losses punctuated by the resignation of its founder and chief executive officer early last year — following a reported rift with then-board member and early investor Millard “Mickey” Drexler — its chairwoman says the ship has been righted.
In June, Ashley Merrill, founder and CEO of the high-end sleepwear brand Lunya, joined Outdoor Voices as chairwoman of the board. Her investment fund, NaHCO3, also offered up a round of funding, believed to be less than $10 million. Since that time, OV has concentrated on the unsexy end of the business, focusing primarily on processes, operations and supply chain improvements, according to Merrill, who called 2020 the “Foundation Setting Year.”WWD