Athletic apparel maker Vuori reaches $5.5 bln valuation in latest funding round

Reuters11-09

Nov 8 (Reuters) - California-based premium athleisure wear maker Vuori Inc said on Friday that global investors General Atlantic and Stripes led an investment round worth $825 million, taking up the brand's valuation to $5.5 billion.

The investment is structured as a secondary tender offer that includes a group of other investors as well.

In 2021, SoftBank's venture capital fund invested $400 million in the company, then valuing the business at $4 billion.

Activewear makers have enjoyed steady demand since the pandemic, as customers stuck at home shopped for everything from yoga pants to sports shoes. The company, which makes $100 leggings and $64 sports bras, has quickly grown in popularity among young consumers in the United States alongside rival Alo Yoga and category leader Lululemon Athletica .

Founded in 2015, Vuori plans to exceed 100 stores in 2026 with a focus on expansion in key markets in Europe and Asia.

The U.S. athleisure market is expected to grow at a compounded annual growth rate of 7% through 2028, according to the statement from Vuori.

(Reporting by Savyata Mishra in Bengaluru; editing by Alan Barona) ((mailto:Savyata.Mishra@thomsonreuters.com))

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