The sportswear brand has big plans for expansion after receiving one of the biggest investments in recent times for a private fashion company.
Vuori received a $ 400 million investment from SoftBank Vision Fund 2, valuing the brand at $ 4 billion. The company plans to double its business expansion in the United States, with more than 100 store openings planned over the next five years.
Vuori was founded in 2015 as a direct-to-consumer fitness sportswear brand, but has since expanded into wholesale partnerships with REI and Nordstrom. In addition to its e-commerce business, the company has nine physical stores, eight of which are in its home state of California.
Vuori also plans to use the new investment to kick off its international expansion next year, launching an omnichannel business in key markets in Western Europe and Asia-Pacific and an innovation center in Taiwan. A store in London is expected to open next spring.
âSoftBank has a long history of identifying market-leading companies and supporting entrepreneurs with bold visions,â said Joe Kudla, Founder and CEO of Vuori. âWe are grateful to have their partnership as we enter an exciting new period of growth and evolution as a company. “