Michelle Wahler, the co-founder of Beyond Yoga, a Los Angeles-based athleisure apparel brand owned by Levi Strauss & Co. (LS&Co.), announced that she will be stepping down as CEO. Nancy Green, former CEO and president of Athleta, will succeed her to support the brand’s continued growth and expansion within LS&Co.’s portfolio of brands. Green will join Beyond Yoga on Feb. 1, 2024.
Chief Operations Officer and Chief Financial Officer Jesse Adams, who has been with the company for more than ten years, will also be leaving the company. Wahler and Adams have championed the brand’s values of inclusivity and authenticity. They will continue to advise the company to ensure a seamless transition from the founder to the new CEO.
“Under Michelle’s leadership, Beyond Yoga has grown from an idea to a nearly $100 million omnichannel retailer,” said Chip Bergh, President and CEO of LS&Co. “[…] Based on the strong foundation she built, we anticipate a smooth transition for our employees, consumers and customers.”
LS&Co. acquired Beyond Yoga in 2021 as part of its strategy to diversify its portfolio. The brand enabled LS&Co. to enter the high-growth activewear segment and contributed nearly $100 million in net sales in FY22. Beyond Yoga opened its first store in Santa Monica, California, in 2022 and now has six stores.
Green’s appointment as CEO is expected to usher in a new era of accelerated growth for Beyond Yoga. Green is a seasoned retailer and proven brand developer who has already achieved significant profitable growth.
Under Green’s leadership at Athleta, the brand introduced the Power of She platform, redesigned the product assortment and made significant strides in product sustainability. During this time, Athleta’s sales grew from $250 million to nearly $1 billion while significantly increasing its operating margin and expanding its store network from 39 to 175 stores. In addition to leading Athleta, Green was President and CEO of Old Navy from 2019 to 2022, where she oversaw the brand’s growth from $8 billion to $9 billion, with significant growth in activewear. Green has also served on the boards of Marine Layer, Allbirds and the National Retail Federation, is on the advisory board of Lily AI and Senior Advisor at the Center for Equity, Gender and Leadership at UC Berkeley’s Haas School of Business.
Beyond Yoga is expected to continue to expand through increased DTC channels, including brick-and-mortar retail, category growth, an enhanced wholesale presence with premium partners and an international footprint. The brand will continue to operate as a standalone division within LS&Co., maintaining its core ethos while leveraging LS&Co. The brand is currently only available in the US (offline and online).
