In 2015 Joe Kudla was struggling to get investors for Vuori, but now the successful athleisure brand landed a $4 billion valuation. Here's what you need to know:
- In 2015, when competitors were raising tens of millions of dollars in funding, Vuori was told they weren't disruptive or innovative enough. As a result, Vuori focused on creating high-quality products while prioritizing profitability.
- Kudla mentions that when money was cheap, many startups could fall into bad habits while Vuori never lost sight of creating high-quality differentiated products.
- When Vuori started selling through department stores including REI, Nordstrom, Selfridges, Harrods, and Equinox gyms, the brand gained buzz through word of mouth.
- Vuori became a top-selling brand at the 10 REI stores where it was sold. By 2018 Vuori was generating upwards of $30 million in revenue.
- In 2021 Japanese investor Softbank poured $400 million into Vuori landing it a $4 billion valuation. Vuori is now headed toward an IPO which could come as soon as 2024.
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