Early Life and Background
Marco DeGeorge's journey to becoming a billionaire started in Los Gatos, California, where he grew up with his childhood friend and future business partner, Danny Harris. DeGeorge had back surgery at age 11, which later led him to yoga. Prior to his venture into the athletic apparel industry, DeGeorge worked as a fashion designer.
Rise to Success: Founding Alo Yoga
In 2007, DeGeorge and Harris co-founded Alo Yoga. The brand's name is derived from 'air, land, and ocean,' emphasizing the brand's focus on a mindful lifestyle. The company's mission was to create the best yoga clothing and inspire people to incorporate yoga into their lives. DeGeorge, along with Harris, built a successful business model that quickly gained popularity. Alo Yoga's success is evident in the brand's expansion, which includes a significant number of retail locations across the globe.
Key Business Strategies
DeGeorge and Harris established Color Image Apparel in 1992. In 2020, Alo Yoga sales jumped from $200 million to over $1 billion in 2022, indicating a five-fold increase in just two years. They invested in creating high-quality products and an immersive customer experience. The strategy involved celebrity endorsements, particularly from figures like Kendall Jenner, Hailey Bieber, and Taylor Swift, which significantly boosted Alo Yoga's brand recognition and appeal. The brand expanded into skincare, supplements, and wellness products to diversify its offerings. Alo Yoga expanded to over 130 stores worldwide, with many powered by solar energy. The company has focused on digital marketing and community engagement, using social media to build a strong brand presence.
Philanthropy
While specific philanthropic amounts are not available, Alo Yoga has a non-profit foundation called Alo Gives that tries to influence children to try the practice of yoga, with free, 5-minute videos. Alo Yoga's mission emphasizes mindful movement and wellness.