Activewear Brand Vuori Raises $100M, Eyes International Expansion

Direct-to-consumer ( DTC) activewear brand Vuori has raised $100 million at a valuation of $4 billion in an investment round led by Softbank Vision Fund 2, marking one of the largest investments to have ever been made in an apparel brand.

Since being founded in 2015, the company has made a name for itself in the crowded activewear market. The U.S.-based brand is now setting its eyes on overseas markets with plans to expand its presence across Western Europe and the Asia Pacific and open an innovation center in Taiwan. The activewear company also plans to grow its business in the U.S. market by opening more than 100 new omnichannel-focussed stores over the next five years — a shift from its 2020 decision to pause expansion of physical stores.

Vuori is one of the few DTC startups that are not only seeing growth in their business but are also managing to remain profitable. So it is perhaps not surprising that the company has succeeded in securing such a large investment, unlike other players in the DTC business.

“With a strong e-commerce business, thriving brick-and-mortar stores, and a network of best-in-class wholesale partners, Vuori, unlike many other digitally native brands, has been profitable since 2017,” the company said, announcing the funding.

The company added that it is keeping its sustainability goals front and center of its growth strategy as it expands its product offerings and market reach. Vuori already partners with organizations such as Climate Neutral and CleanHub, and the company has plans to eliminate 80 percent of plastics from its shipping and supply chain by 2022.

Originally published at https://retailbum.com on October 15, 2021.