Southern Californian performance lifestyle brand Vuori secured an $825 million investment led by General Atlantic and Stripes, two global growth investors, along with a cohort of additional investors. The investment, structured as a secondary tender offer, raises the brand’s valuation to $5.5 billion._x000D_
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“As we continue to drive momentum, growth, and market share gains, we are grateful to have the additional partnership of these leading organizations,” Joe Kudla, founder and CEO of Vuori, said. “Alongside our existing major investors, 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.”_x000D_
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“We have followed Vuori for many years, as Joe and the team have thoughtfully built an enduring, generational and category-defining brand,” Andrew Ferrer, managing director at General Atlantic, who will join the Vuori board of directors as part of the transaction, said. “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 whitespace 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.”_x000D_
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“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,” Chris Carey, partner at Stripes, said. “We are excited to be partnering with Joe and the Vuori team at this compelling inflection point for the brand.”
Forward for Specialty Finance
