What's Happening?
Tricia Shumavon, the president of Prana, is spearheading a strategic overhaul to revitalize the brand's growth. Prana, founded in 1992 and acquired by Columbia Sportswear in 2014, has faced stagnant sales, with net sales in 2024 reaching $104 million, an 8% decrease from the previous year. In 2025, sales continued to decline, with a 10% drop in the first quarter and a 6% decrease in the second quarter. Shumavon, who joined Prana two years ago, aims to shift the brand's focus from a sustainability-first approach to a broader lifestyle brand that appeals to a younger demographic. Her strategy includes expanding the product range beyond yoga and climbing apparel to include versatile lifestyle pieces, targeting a 28-year-old consumer who values outdoor activities and community engagement.
Why It's Important?
The strategic changes at Prana are crucial for the brand's survival and growth in a competitive market dominated by companies like Lululemon and Vuori. By broadening its product offerings and targeting a younger demographic, Prana aims to capture new consumer segments and build brand loyalty among Millennials and Gen Z. This shift could potentially increase Prana's market share and improve its financial performance, which has been underwhelming in recent years. The success of this strategy could also influence other brands in the activewear industry to reconsider their focus on sustainability and expand their appeal to a wider audience.
What's Next?
Prana plans to roll out a new marketing campaign this fall, aimed at its target demographic, with updated brand identity elements. The company is also looking to expand its retail presence, with plans to open additional stores in key locations over the next few years. E-commerce growth is another focus, as Prana seeks to increase its direct-to-consumer sales. The brand's management team has been strengthened to support these initiatives, and early indicators, such as increased wholesale orders, suggest positive market reception.
