SoftBank Vision Fund II invests $400m in activewear brand Vuori
Join Our Newsletter - Get important industry news and analysis sent to your inbox – sign up to our e-Newsletter here
X

SoftBank Vision Fund II invests $400m in activewear brand Vuori

14 Oct 2021 (Last Updated October 14th, 2021 16:08)

Vuori plans to open more than 100 stores in the US over the next five years.

SoftBank Vision Fund II invests $400m in activewear brand Vuori

US-based activewear brand Vuori has received a $400m investment from SoftBank’s Vision Fund II as it focuses on global expansion.

The latest investment from SoftBank’s venture capital fund values the private apparel company at $4bn.

Launched in 2015, Vuori claims to be a major player in the US activewear market.

The investment will help facilitate the company’s expansion, as it aims to enter the international market next year.

It will launch an omnichannel business in various markets across Western Europe and Asia-Pacific, as well as an innovation centre in Taiwan.

Vuori will also strengthen its domestic retail presence by opening more than 100 stores across the US over the next five years.

The brand plans to continue expanding its product offerings, increase its sustainability efforts and invest in infrastructure and people.

Vuori founder and CEO Joe Kudla said: “SoftBank has a long track record of identifying market-leading companies and supporting entrepreneurs with bold visions.

“We are grateful to have their partnership as we move into an exciting new period of growth and evolution as a company.”

SoftBank Vision Fund 2 is Vuori’s second institutional backer, with Norwest Venture Partners having invested in the company in 2019.

Based in Encinitas, California, Vuori has an e-commerce and physical retail presence and a network of wholesale partners.

SoftBank Investment Advisers managing partner Nagraj Kashyap said: “With its strong consumer engagement, sustainability focus, and sheer growth, we believe Vuori is a leading brand in the attractive activewear market.

“We are delighted to partner with Joe Kudla and the Vuori team as they introduce new products to consumers and expand globally.”

In August, SoftBank invested $325m in licensed sports merchandise retailer Fanatics alongside Silver Lake and other investors.

The funding round, which also included rapper Jay-Z and his company Roc Nation, valued Fanatics at $18bn.