SoftBank invests $400m in US-based activewear maker Vuori

REUTERS/Issei Kato

SoftBank Group Corp’s venture capital fund has invested $400 million in Vuori Inc, the California-based maker of leggings and sports bras said on Wednesday, valuing it at $4 billion.

Vuori, founded in 2015, plans to expand its Western European and Asian markets next year and open more than 100 U.S. stores in the next five years.

Activewear makers have seen strong demand over the past year, as people stuck at home due to the pandemic joined the home-fitness bandwagon, creating a surge in demand for everything from yoga pants to sports shoes.

SoftBank’s investment is one of the largest in a private apparel company, Vuori said, adding it was the second investor to back the company after Norwest Venture Partners’ investment in 2019.

Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.