Core77

We're very happy to welcome back Nau for Version 2.0. The eco-driven outdoor apparel company were forced to close up shop six weeks ago when they couldn't raise the venture capital needed to move forward, a combination of an aggressive business plan and a nervous market in the current economic climate.

After numerous emails and support from a passionate customer base, they continued to seek out any opportunities to continue and Santa Barbara based urban wear outfitter Horny Toad have stepped in and bought the company.

Ian was surprised with how quickly their calls were returned. "I didn't have explain who Nau was. Most people said 'We've been watching you', 'We've been studying what you've been doing.' " Many said they weren't in position to help. But leads were pursued, and "A few days ago, a deal was closed, a lifestyle apparel company based in Santa Barbara, California, bought the rights to the Nau brand. That company is Horny Toad."

In the short term, Nau's clearance sale online will continue to help pay off creditors, plans to relaunch the website are under way and while their partner program will most certainly change, they intend to continue donating a percentage of every sale to environmental and humanitarian organizations. Nau 2.0 will take affect as of August 1st, 2008.

Treehugger has the full story.

via coolhunting