2.0 Ventures Acquires Majority Stake in Direct-to-Consumer Athleisure Brand Feat Clothing
Photo Courtesy: Feat Clothing

2.0 Ventures Acquires Majority Stake in Direct-to-Consumer Athleisure Brand Feat Clothing

In a move that underscores the growing influence of private equity in the athleisure market, Utah-based private equity firm 2.0 Ventures has acquired a controlling stake in Feat Clothing, a direct-to-consumer apparel brand known for its “comfortable athleisure” designs. The acquisition comes after Feat was valued at $75 million in 2022 following a successful fourth round of funding.

 

Founded in 2015, Feat Clothing started as a colorful sock brand before expanding its product lineup to include tops, hoodies, joggers, and shorts. The brand has garnered a loyal following, mainly through collaborations with influencers like Kristin Cavallari, Brody Jenner, and Helen Owen. Feat’s primary sales channel is its website, though it also made a physical retail debut in 2022 with a pop-up shop in Santa Monica, California.

 

Swiss businessman Michael Peleg was once rumored to be a potential buyer, but 2.0 Ventures ultimately sealed the deal. The private equity firm, which has built a strong reputation for nurturing direct-to-consumer (DTC) brands, hopes to leverage its experience to accelerate Feat’s growth while maintaining its current product offerings and team structure. Co-founder Taylor Offer will step down from his role as CEO but will remain on the board of directors. The rest of Feat’s leadership team is expected to remain employed by the company.

 

“Feat’s commitment to comfort, innovation, and sustainability aligns with our vision for the future of consumer brands,” a spokesperson from 2.0 Ventures said. “We look forward to supporting the company as it expands its footprint in the athleisure market.”

 

Feat’s sale to 2.0 Ventures is a natural progression following the company’s rapid growth in recent years. Over four funding rounds, the apparel brand raised $5 million, securing the resources necessary to enhance its product development and marketing efforts. The decision to partner with 2.0 Ventures was influenced by the firm’s track record with DTC brands, including Krado (plant care), Pestie (pest control), Stix (golf gear), and Manscaped (men’s grooming).

 

This acquisition also represents 2.0 Ventures’ first foray into the apparel industry, adding an exciting new vertical to its portfolio. The firm’s expertise in scaling DTC brands is expected to help Feat expand its reach and capitalize on the continued popularity of athleisure apparel, a market led by giants like Lululemon and Under Armour. These brands have seen success by positioning athleisure as more than just workout gear but a staple of everyday, casual wear—a trend that Feat Clothing has also embraced.

 

As consumer interest in comfortable, versatile apparel remains high, 2.0 Ventures is poised to help Feat grow its market share while staying true to its roots as a customer-centric, direct-to-consumer brand. The partnership represents a strategic move for both Feat and 2.0 Ventures, offering the potential for further innovation in a competitive and ever-expanding segment of the apparel industry.

 

Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or business advice. The acquisition details and market projections mentioned are based on publicly available information and industry trends. Readers should conduct their own research or consult with a financial professional before making any investment or business decisions. Neither the author nor the publication guarantees the accuracy or completeness of the information provided.

Published by Stephanie M.

(Ambassador)

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