Sportswear brand Vuori to use $ 400 million in funding to grow beyond DTC
The athleisure boom is giving way to big winners. This week, sportswear company DTC Vuori secured $ 400 million in funding from SoftBank Vision Fund 2, valuing it at $ 4 billion. And they take that $$$ on the road and straight from the store. (Once a rare move for DTC brands, physical retail has become an obvious added value.)
Vuori will use the new funding to expand its business internationally, expanding into Europe and Asia-Pacific in 2022, as well as more bricks and mortar in the United States. The company plans to open an additional 100 stores over the next five years.
- Success has been written in the stars for a while now. Vuori reached profitability in 2017, just two years after its inception.
History of the store: âBesides being a place to see, feel, try and experience our latest and greatest product, we like to think of all of our stores as community hubs,â said Nikki Sakelliou, vice president of marketing, Retail Brew. Before the pandemic, the brand would run in-store events like workout classes to engage consumers.
But Vuori doesn’t want his daring brick-and-mortar expansion to overshadow his bread and butter. âWe strongly believe in the in-person shopping experience, but we also know that e-commerce will always be a vital part of our business,â said Sakelliou. âWe recognize a ton of value in making sure Vuori is a true omnichannel business that customers can experience and enjoy in different ways. “âJG