Home Business Beyond Yoga names Athleta and Gap veteran Nancy Green CEO

Beyond Yoga names Athleta and Gap veteran Nancy Green CEO

by SuperiorInvest

Beyond yoga

Courtesy: Beyond Yoga

Levi Strauss Beyond Yoga has tapped former Athleta CEO and veteran Gap Veteran Nancy Green will be its next CEO as the company looks to scale beyond its modest roots and compete with industry leaders such as lululemon and upstarts like Alo Yoga and Vuori.

Beyond Yoga founder Michelle Wahler, along with her COO and CFO, Jesse Adams, will step down. Green is scheduled to take the reins on Feb. 1, the company said in a news release.

Wahler and Adams will remain as advisors to ensure a smooth transition, the company said.

“We have reached a natural inflection point for this incredible brand,” Levi’s incoming CEO Michelle Gass said in a statement. “As we move into the next stage of growth, we believe Nancy has the experience to fully unlock Beyond Yoga’s potential by leveraging her impressive experience in retail sales and [Levi Strauss’] extensive global resources and capabilities.

The leadership change comes as Beyond Yoga looks to scale and differentiate itself in an increasingly crowded sports apparel space. retailers like lululemon and Nike have long dominated the category, closely followed by Beyond Yoga and Gap-owned Athleta. But startups like Alo Yoga and Vuori have been nipping at their heels and gaining market share.

Lululemon customers spent 7.1% and 3% of their active and fitness dollars on Vuori and Alo Yoga, respectively, during the holiday shopping season in December, BTIG’s Janine Stichter wrote in a research note, citing to an Earnest wallet analyst.

Meanwhile, during Levi’s most recent quarter ending August 27, sales at Beyond Yoga increased 25%. In Gap’s quarter ending Oct. 28, Athleta’s sales fell 18%.

As these companies compete, they have also poached each other’s top talent. In August, Athleta named former Alo Yoga president Chris Blakeslee as its next CEO.

Now, the former CEO of Athleta is joining Beyond Yoga.

Nancy Green

Courtesy: Beyond Yoga

Green began her career as a stylist in New York and spent about 25 years at Gap. She rose from marketer to president and CEO of Athleta, a position she held for six years, according to her LinkedIn profile.

During his time at Athleta, he reshaped and innovated its product line, improved sustainability efforts, and grew sales from $250 million to nearly $1 billion. She also expanded Athleta’s store footprint from 39 to 175. Green developed a skill set that will be crucial at Beyond Yoga, which is embarking on a similar growth plan.

Founded in 2005 in Los Angeles, Beyond Yoga began selling its leggings and tops in yoga studios and gyms. After gaining a cult following, it expanded its wholesale partnerships to a host of retailers, including NordstromBloomingdale’s and Revolve.

Levi acquired Beyond Yoga in 2021 for $400 million. In fiscal 2022, it generated nearly $100 million in revenue for the clothing retailer.

Levi has focused on wholesale partnerships since its founding in 1853, but under the leadership of outgoing CEO Chip Bergh, it has worked to develop its direct-to-consumer channel, a strategy that extends to Beyond Yoga. The brand opened its first store in 2022 and has now expanded to six locations, with direct-to-consumer sales consistently growing by double digits year over year.

The company will present its results next week.

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