Don’t tell Vuori the athleisure market is softening.
The Encinitas, Calif.-based brand on Friday said it has received an $825 million investment led by General Atlantic and Stripes, two global growth investors, along with a collection of other investors that now values the company at $5.5 billion.
The investment, structured as a secondary tender offer, is more than twice the $400 million Vuori received in 2021 from institutional investor SoftBank Vision Fund 2, which had skyrocketed the company’s valuation to $4 billion. Former Neiman Marcus chief Jim Gold was among the early proponents of the company.
“As we continue to drive momentum, growth and market share gains, we are grateful to have the additional partnership of these leading organizations,” said Joe Kudla, founder and chief executive officer of Vuori. “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.”
Kudla was not available for further comment on Friday.
Kudla, an entrepreneur and one-time model, took up yoga after he developed chronic back pain from years of playing football and lacrosse. He loved the discipline but not the apparel options offered by the big brands, so he launched Vuori in 2015 as a men’s activewear brand to fill that void.
Since then, the company has experienced explosive growth, expanding its offerings beyond strict activewear to lifestyle pieces, adding womenswear, and moving outside the U.S. borders. Vuori is now available in 18 countries.
Inside the new Vuori flagship on Regent Street in London.
Courtesy.
It has also moved from strictly an online player and has been aggressively opening stores with a goal to exceed 100 units in 2026 in the U.S., Europe and Asia. It currently operates 79 stores in the U.S., two in London, two in Shanghai and one in Korea. Last month, it opened its first international flagship on London’s Regent Street, a two-story, 4,000-square-foot store. That followed a smaller unit in Covent Garden that opened in 2022. A third London unit is slated for King’s Road in the spring.
“We have followed Vuori for many years, as Joe and the team have thoughtfully built an enduring, generational, and category-defining brand,” said Andrew Ferrer, managing director of General Atlantic, who will join the Vuori board of directors as part of the transaction. “Vuori’s immense consumer loyalty and incredible product reflect the brand’s relentless focus on quality and innovation, customer experience, and cultivating its team and community. Vuori has significant white space 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.”
Chris Carey, partner at Stripes, said Vuori “encapsulates everything we look for in a Stripes investment — the products are amazing and beloved by the consumer, the team is fanatical about quality and innovation, and the market for athleisure is global with durable tailwinds.”
