All that is changing at Beyond Yoga, the athletic and lifestyle apparel brand owned by Levi Strauss & CoLEVI., which announced last weekend that co-founder Michelle Waller, former CEO and president of Athleta, has stepped down as CEO. announced that Nancy Green will be appointed CEO. Role at Beyond Yoga.
In an official statement, the company said the denim-wearing owners have noted the potential of the burgeoning athleisure market, and the move is “to expand on the brand’s continued growth and expansion within LS&Co.’s brand portfolio.” ”.
Green will join Los Angeles-based Beyond Yoga on February 1, which describes itself as an inclusive “body-positive, premium athleisure apparel brand” founded in 2005.
“We set out to develop a brand that celebrates real women’s bodies, and I’m incredibly proud of what we’ve accomplished with Beyond Yoga. I’ve always wanted Beyond Yoga to become a billion-dollar brand. We believed in it and we look forward to working with Nancy’s and seeing how she, with her experience, will take our vision into the future.”
Since founding Beyond Yoga, Waller has expanded his wholesale operations and established a direct-to-consumer business with consistent double-digit growth each year.
Chief Operating Officer and Chief Financial Officer Jesse Adams, who has been with the company for more than 10 years, is also retiring.
Beyond Yoga’s new CEO
“Under Michelle’s leadership, Beyond Yoga has grown from an idea to a nearly $100 million omnichannel retailer,” said Chip Berg, president and CEO of LS&Co. LS&Co acquired Beyond Yoga in 2021 as part of a strategy to diversify its portfolio and provide entry. Entering the high-growth activewear space, he contributed nearly $100 million to fiscal 2022 net revenues.
Beyond Yoga opened its first store in Santa Monica, California in 2022 and currently has six locations with plans for more.
According to the company, Green’s appointment as CEO is expected to usher in a new era of accelerated growth for Beyond Yoga. Ms. Green is a veteran retailer, and under her leadership at her Athleta, owned by Gap Inc., the team has introduced the “Power of She” platform, introduced the Athleta Girl line and made major product changes, among others. , transformed the brand by realigning its product line. sustainability.
During that time, Athleta’s revenue grew from $250 million to nearly $1 billion, and its store network expanded from 39 to 175 stores. In addition to leading Athleta, Mr. Green served as president and CEO of sister brand Old Navy from 2019 to 2022, where he oversaw the brand’s growth from $8 billion to $9 billion with significant growth in activewear. .
Mr. Green also served on the boards of Marine Layer, Allbirds, and the National Retail Federation. She is on Lily AI’s advisory board. She is also a senior advisor for the Haas School of Business at the University of California, Berkeley, and the Center for Equity, Gender, and Leadership.
Growth in athleisure
Michelle Gass of LS&Co. spoke at the NRF Big Show in New York earlier this month. The president and incoming CEO said he feels “Beyond Yoga has significant growth potential.”
“We have reached a natural inflection point for this great brand, and as we pursue the next phase of growth, Nancy has the opportunity to leverage her tremendous retail expertise and extensive knowledge of LS&Co. We believe we have the experience to unlock the full potential of Yoga, “world-class resources and capabilities,” she said.
Outlining its strategy, Levi’s said Beyond Yoga will expand through expansion of direct-to-consumer channels, including brick-and-mortar retail, category growth, expanding wholesale operations with premium partners, and an international presence. The brand will continue to operate as an independent division within LS&Co.
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