Southern Californian premium lifestyle brand Vuori has secured a $825m investment to strengthen its presence in the performance apparel market.
This funding round was spearheaded by global growth investors General Atlantic and Stripes, with additional support from other investors. The deal raises Vuori's valuation to $5.5bn.
The investment follows a successful $400m financing in 2021 led by SoftBank Vision Fund 2, which had valued the company at $4bn.
This latest round of funding is a testament to Vuori's significant impact on the athleisure industry and the confidence its partners and investors have in the brand's potential for substantial growth.
The US athleisure market itself is projected to expand at a compound annual growth rate of approximately +7% through to 2028, noted the company.
Vuori founder and CEO Joe Kudla said: "As we continue to drive momentum, growth, and market share gains, we are grateful to have the additional partnership of these leading organisations.
“Alongside our existing major investors, Softbank, Norwest, and ABP Capital, General Atlantic and Stripes will be key strategic partners and supporters in our ongoing mission and growth journey.
“They bring industry expertise and track records in helping emerging category leaders accelerate their expansion efforts while sustainably scaling globally. We are excited to partner with our new and existing investors to continue pursuing Vuori’s mission to make quality products that empower deeper connections with consumers everywhere.”
Launched in 2015, the Vuori brand has successfully cultivated a loyal consumer base in the US and is now focusing on increasing its omnichannel presence internationally.
With plans to surpass 100 stores by 2026, Vuori is targeting key markets in Europe and Asia for its expansion.
As part of this investment transaction, General Atlantic managing director Andrew Ferrer will be joining the Vuori board of directors.
Ferrer said: “We have followed Vuori for many years, as Joe and the team have thoughtfully built an enduring, generational, and category-defining brand.
“Vuori has significant whitespace to expand globally, supported by long-term tailwinds in athleisure and a large addressable market across women’s and men’s activewear apparel. We look forward to partnering and leveraging our global footprint to support these efforts for years to come.”
