Gap Inc. Takes Equity Stake in Allyson Felix’s Saysh Brand

Saysh, the community-focused lifestyle brand cofounded by Olympic track legend Allyson Felix, has secured its series A funding with $8 million.

As reported by WWD last month, that final infusion has been led by Iris Ventures with some participation by Redpoint Ventures. One interesting addition is that this round was also led by Gap Inc.’s Athleta division. Gap and Athleta have made a $1 million investment in the series A round. As part of the investment, Gap Inc. has taken a 2 percent equity stake in Saysh, according to a company spokeswoman. In addition, Athleta has a partnership to sell Saysh footwear in Athleta stores and via its site. With 220 stores in the U.S. and Canada, the chain will soon be offering Saysh products at retail and is currently offering the brand online.

Felix already knows the ins and outs of Athleta, having become Athleta’s first sponsored athlete in 2019. In June 2021, not long after Saysh launched, the two parties teamed up to offer activewear and an exclusive color way of the Saysh One sneaker on Athleta’s online store.

Felix parted ways with her former sponsor Nike several years ago and published a New York Times op-ed in 2019 that called out the activewear giant for not being supportive of new mothers. In competition and through her own business, Felix, who has two children, is committed to supporting women and their families.

Last year Felix and Athleta also joined forces to kick off “The Power of She Fund: Child Care Grants.” That initiative earmarked $200,000 to help professional female athletes with children finance their travels for competitions. Six mothers, who competed in the Tokyo Summer Olympics, were among the beneficiaries of that monetary commitment. During those Summer Games, Felix, who is now the most decorated U.S. Olympic track athlete, wore Athleta apparel and Saysh spikes.

Saysh was started by Felix with her brother Wes, who serves as chief executive officer. The company will use the funding to amp up its branded e-commerce, wholesale distribution and community-based retail — an area that the founders are looking to build up. The $8 million investment will also be used to expand its product range and to introduce activity-specific sneaker styles.

Springbank Collective was an additional early-stage investor that recruited a group of angel investors through a Special Purpose Vehicle, according to information provided by Saysh. The New York Road Runners Club’s CEO Kerin Hempel, The Black Doula’s Sabia Wade and gender and policy expert Anne-Marie Slaughter were participants. Felix shares the collective’s mission to support working women and their families.

Athelta’s investment was brokered by Gap’s Strategic Growth Office, the unit that is on the lookout for opportunities to increase growth and fast-track capabilities across its portfolio of brands.

Venture capital firm Redpoint has previously invested in Netflix, Sonos and other companies.