Exclusive: Vuori Clothing Raises $825M, Valued at $5.5B
The investment deal is led by growth investors General Atlantic and Stripes.
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San Diego-based Vuori Clothing, activewear unicorn company has raised $825 million led by growth investors General Atlantic, Stripes and additional investors announced on Friday, November 8th.
The deal values the clothing giant at $5.5 billion, which is up $1.5 billion from its last valuation when it raised $400 million from SoftBank in 2021.
The investment structured as a secondary tender offer, which allows some of the early investors and employees to sells shares.
Founded in 2015, Vuori is a premium performance apparel brand that sells women and male clothings focused primarily in the athleisure category. A leader in the space, Vuori competes with Alo Yoga, Nike, and Lululemon.
The apparel company is headquartered in Carlsbad and employs more than thousand employees across the United States.
The secondary sale could signal Vuori has little ambitions to go public any time soon—the company was reportedly preparing for an IPO.
“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 CEO of Vuori Clothing.
“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.”