California-based activewear brand Vuori Inc. is reportedly considering going public with an initial public offering (IPO) in mid-2024. According to sources familiar with the matter, the company is aiming to surpass its previous valuation of $4 billion, which was achieved in a funding round led by SoftBank Group Corp.’s Vision Fund 2 in 2021. While Vuori is currently in talks with investment banks, the selection of advisors is yet to be finalized, and plans could still change. SoftBank has chosen not to comment on the matter, and Vuori’s spokesperson has not responded to requests for comment.

Founded by Joe Kudla in the San Diego area, Vuori has gone on to expand its presence on the East Coast, opening its first store in New York in 2022. The brand has also made a name for itself internationally, with locations in countries including the UK and China. In 2021, Vuori secured $400 million in funding from SoftBank Vision Fund 2, and in 2019, it received investments from Norwest Venture Partners.

The popularity of activewear has continued to rise even after the pandemic, as fashion trends have shifted towards a more casual and comfortable style. This can be seen in the success of Lululemon Athletica Inc., whose stocks have surged by 20% this year thanks to high demand and expanding profit margins.

As Vuori prepares for a potential IPO, it will be intriguing to observe how investors react to the brand’s expansion plans and its ability to capture a portion of the thriving activewear market. Backed by SoftBank and having established a strong presence both domestically and internationally, Vuori may possess a solid foundation for success in the public market. Investors will undoubtedly keep a close eye on the company’s performance and valuation as it navigates the IPO process in the months to come.

Useful links:
1. Vuori official website
2. Lululemon official website