Outdoor Voices

Outdoor Voices was the activewear brand that defined millennial 'Doing Things' culture. Founded by Tyler Haney at age 25, the company became a darling of the DTC movement with its pastel-colored exercise wear and community-driven marketing. The brand cultivated an aspirational lifestyle image on Instagram, sponsoring recreational sports events and positioning itself as the anti-Nike — for people who exercise for fun, not competition. OV attracted $64 million from investors including General Catalyst, Google Ventures, and retail legend Mickey Drexler (former CEO of J.Crew and Gap). But behind the Instagram-perfect facade, the business was bleeding cash. At its peak, Outdoor Voices was reportedly losing $2 million per month while generating only $40 million in annual revenue. The company spent lavishly on events, influencer partnerships, and retail stores that didn't generate sufficient returns. In 2020, Tyler Haney was pushed out as CEO by the board amid reports of an 'unsustainable' burn rate and a toxic work culture. The company went through two more CEOs in rapid succession. Despite attempts to cut costs and refocus the business, Outdoor Voices continued to struggle. By 2023, it had closed most of its retail stores and laid off the majority of employees. In early 2024, the company effectively shut down, with its website going dark and remaining inventory being liquidated. The brand was later acquired out of bankruptcy for a fraction of its invested capital. Outdoor Voices is the quintessential cautionary tale of the DTC era: a beloved brand with genuine community connection that failed because unit economics and financial discipline were treated as afterthoughts.