The US-based activewear brand Vuori has secured an investment worth $825 million, raising the company’s net worth to nearly $5.5 billion. These are impressive numbers, considering the current challenges experienced in the apparel industry. The funding round was led by the General Atlantic and Stripes, with support from several additional investors.
The investment is structured as a secondary tender offer, which prioritises acquiring shares from existing shareholders over issuing new stock. Consequently, the major investors will become strategic partners in Vuori’s future growth.
Joe Kudla, CEO and founder of Vuori, spoke about how the valuable insights from the investors will help “accelerate the company’s expansion while ensuring sustainable global scaling.” He also spoke about his excitement in continuing Vuori’s mission, forging deeper consumer relations while delivering high-quality products.
This recent round of funding follows Vuori’s previous $400 million investment in 2021, which valued the company at $4 billion. The new investment highlights the company’s strong momentum in disrupting the athleisure market, projected to grow at a compound annual rate of around 7 per cent in the US through 2028.
Founded in 2015, Vuori has been successful in establishing a loyal customer base thanks to its high-quality, versatile designs that combine functionality with comfort, making them suitable for both workouts and everyday wear. Their efforts to ensure sustainable practices, especially the use of recycled and eco-friendly materials, resonate with today’s conscious consumers. With solid support from strategic investors and rapid growth in the competitive athleisure market, Vuori continues to expand its reach, innovating with a focus on style, durability, and sustainability. (1)
