Oct 13 (Reuters) – SoftBank Group Corp’s (9984.T) enterprise capital fund has invested $400 million in Vuori Inc, the California-based maker of leggings and sports bras stated on Wednesday, valuing it at $4 billion.
Vuori, based in 2015, plans to increase its Western European and Asian markets subsequent 12 months and open greater than 100 U.S. shops in the subsequent 5 years.
Activewear makers have seen sturdy demand over the previous 12 months, as folks caught at residence as a result of pandemic joined the home-fitness bandwagon, creating a surge in demand for every thing from yoga pants to sports footwear.
SoftBank’s funding is likely one of the largest in a personal attire firm, Vuori stated, including it was the second investor to again the corporate after Norwest Venture Partners’ funding in 2019.
Editing by Vinay Dwivedi