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Activewear brand Vuori is talking to investment banks about a possible IPO by the middle of next year.
According to Vuori, the company is aiming for an IPO that would exceed its $4 billion valuation in its last funding round in 2021 A Bloomberg report on Friday, citing people familiar with the matter. This round of financing included financing from Japan’s Softbank (OTCPK:SFTBY).
According to the report, Vuori could select its advisors within a few weeks, but has not yet made a final decision and plans could change.
California-inspired activewear brand Vuori announced a $400 million investment from Softbank Vision Fund 2 in October 2021, valuing it at $4 billion.
Vuori, which competes with activewear companies like Lululemon (LULU) and Gap’s (GPS) brand Athleta, was founded in 2015.
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