How to Save a DTC Brand Without Crushing Its Soul

The last-minute rescue of a once-buzzy direct-to-consumer brand by an anonymous buyer is an increasingly common story as funding dries up for unprofitable start-ups, and consumers turn back to familiar names.

In May, Outdoor Voices was acquired by Consortium Brand Partners, after the activewear brand had closed its stores and fired most of its corporate staff. Activewear retailer Bandier sold to BC Brands in January, and Gen-Z intimates…