Industry News 1/28/2015

B$Z: Outdoor Tech® Annihilates 2014 Projections

Outdoor Tech®, a technology-driven lifestyle brand and designer of rugged wireless Bluetooth audio accessories for active, outdoor enthusiasts, announced this week that it has grown more than 150% over the last year and exceeded its 2014 financial forecast by 34%. The Los Angeles-based company has grown by more than 1,800% since 2011 and was recently recognized on the Inc. 500 List as one of America’s fastest growing companies.

Outdoor Tech® pins its latest success on multiple drivers, including a 340% increase in door count through a variety of retailers from REI to Barnes & Noble, Nordstrom and Quicksilver; strong sell-through due to increased brand recognition and in store merchandising, an expanded number of SKUs across its Helmet Audio, Bike Audio and Rugged Portable Power categories; and, increased international distribution in Europe, South America and the Middle East. 

With backlog, door expansion, and new product offerings looking to drive another record year in 2015, the closely-held Outdoor Tech® recently engaged Wunderlich Securities out of Newport Beach, Calif., for financial and strategic advisory services to help support the company’s current and future growth. Wunderlich recently advised the largest shareholder of Fox Head, Inc., the number one global motocross apparel and accessory brand, on a majority recapitalization led by Altamont Capital Partners, and structured $55 million financing for Incipio Technologies, Inc., a leading mobile device accessories company located in Irvine, Calif.

“Given the rapid growth that Outdoor Tech has experienced over the past several years, it is important to ensure we are properly and professionally advised on strategic matters by a firm with experience in consumer electronics, outdoor recreation, traditional sports and action sports,” said Caro Krissman, Outdoor Tech® founder and CEO. “Wunderlich possesses this rare mix of backgrounds and expertise as well as holds a close relationship with our management team. We have the utmost confidence and a tremendous amount of trust in their team.”

Coming off a successful CES trade show in Las Vegas, Outdoor Tech® will end the month at the SIA Snow Show in Denver, Colo., and then make the journey to Munich for ISPO where the company will display its new CHIPS® audio accessories collection, the latest helmet audio solutions, and its expanded rugged portable power line.