(Filed Under wholesale Activewear News). SoftBank made a $400 million investment in Vuori, a California-based activewear firm that launched in 2015, raising the valuation of the brand to $4 billion.
According to Vuori, the move marks “one of the largest investments in a private apparel company. The investment underscores excitement in the surging brand, known for its performance clothing that is built to move in yet styled for everyday life, as it sets sights on the international market.”
Vuori claimed it “has established itself as a front runner in the crowded activewear market for offering a differentiated, versatile perspective on performance apparel. After garnering widespread attention and loyalty from consumers in the United States, the brand will begin its international expansion next year, launching an omnichannel business in key markets throughout Western Europe and Asia Pacific and an innovation center in Taiwan. While growing its global distribution, Vuori will double down on retail expansion in the U.S. with more than 100 store openings slated for the next five years.”
Founder and CEO Joe Kudla explained, “SoftBank has a long track record of identifying market-leading companies and supporting entrepreneurs with bold visions.” The announcement noted that “SoftBank Vision Fund 2 is the second institutional investor to back Vuori, following Norwest Venture Partners who invested in the company in 2019.”
Vuori has physical stores in Encinitas, Boulder, Del Mar, Bridgehampton, Malibu, Manhattan Beach, Newport Beach, San Francisco, San Jose and Venice Beach, and the brand is sold on its website and in most Nordstrom and REI stores, according to the firm. It claims to have been profitable since 2017.smrtovnice
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