Last week, Outdoor Voices, the Austin-based athletic apparel company, closed all 16 of its stores as it shifts focus to online operations, reported The New York Times.
Employees learned of the company’s pivot through a Slack message last Wednesday, signaling a new direction, according to the Times.
Outdoor Voices, once valued at $110 million in 2018, saw its value drop to $40 million by 2020. Reports suggested tensions between founder Ty Haney and investor Mickey Dexter, who became chairman in 2017. Haney left the company in February 2020 but maintained a board seat.
The closure came abruptly, with a store manager at one location was offered $500 to work through the week, leaving one manager feeling “like a slap to the face,” The Times reported.
Founded by Haney, Outdoor Voices gained popularity with its #DoingThings slogan and Instagram-worthy apparel for men and women. In 2019, the Times compared Outdoor Voices to the likes of Lululemon.
Its products at locations, including NorthPark Center, are also stocked at retailers like REI. In its message to employees, Outdoor Voices announced a 50% discount on its merchandise.
The company has yet to disclose details about its shift to online retail or issue an official statement on the store closures.
