Activewear brand Vuori (Encinitas, Calif.) has received a $400 million investment from SoftBank Vision Fund 2, increasing the upstart brand’s valuation to $4 billion, reports Business Wire. The funding will be used to open more than 100 new stores in the U.S. as well as undertake omnichannel expansion efforts globally.
“SoftBank has a long track record of identifying market-leading companies and supporting entrepreneurs with bold visions,” said Joe Kudla, Founder and CEO of Vuori. “We are grateful to have their partnership as we move into an exciting new period of growth and evolution as a company.”
Founded in 2015, Vuori has emerged as a frontrunner in the crowded performance apparel market. The brand plans to expands its sustainability efforts as well, through partnerships with Climate Neutral, CleanHub and other like-minded organizations.