Direct-to-consumer activewear brand Vuori plans to open 100 U.S. stores in the next five years, after receiving one of the largest investments in recent times for a private fashion company. Vuori received a $400 million investment from SoftBank Vision Fund 2, valuing the brand at $4 billion.
Vuori was founded in 2015 as a direct-to-consumer fitness activewear brand for men and women, but has since expanded into wholesale partnerships with REI and Nordstrom. In addition to its e-commerce business, the company has nine physical stores, with eight in its home state of California.
Vuori also plans to use the new investment to launch its international expansion next year, launching an omnichannel business in key markets throughout Western Europe and Asia Pacific and an innovation center in Taiwan. A London store is scheduled to open next spring.
In addition, Vuori said it will continue to expand its product offering, make key investments in infrastructure and people and expand its sustainability efforts. Currently, and through partnerships with organizations such as Climate Neutral and CleanHub, the brand is offsetting its carbon and plastic footprints and taking steps to eliminate 80% of plastics from its shipping and supply chain by 2022.
Citing a strong e-commerce business, thriving brick-and-mortar stores, and a network of best-in-class wholesale partners, Vuori noted that, unlike many other digitally native brands, it has been profitable since 2017.