Norwest Venture Partners on Thursday announced it has made a minority equity investment in Vuori, a performance apparel brand based in Encinitas, CA. Financial terms of the investment weren’t disclosed.
Jon Kossow, managing partner at Norwest, will join Vuori’s board of directors as part of this minority investment.
Vuori is profitable and has experienced rapid growth since its founding in 2015, Norwest said. The brand joins other consumer companies in Norwest’s portfolio including footwear brand Topo Athletic, along with Birdies, Casper Sleep, Grove Collaborative, Jolyn, Kendra Scott, and Madison Reed.
Norwest added that Vuori aligns with the firm’s strategy of investing in direct-to-consumer and omnichannel brands. Norwest will secure a minority stake in Vuori as part of the deal.
Joe Kudla, Vuori’s founder and CEO, first saw the opportunity to launch the company while living in San Diego. A lifelong athlete, Kudla was engaging in outdoor fitness activities such as hiking, yoga, running, and mountain biking. At the time, he was continually searching for the appropriate clothing to suit his own athletic endeavors but found himself dissatisfied with the limited options available in the market.
Through his own experience, Kudla became aware of the massive vacancy for a brand that genuinely catered to the men’s athletic market. In 2015, Kudla launched Vuori’s first collection of men’s athletic apparel that was designed to move and sweat in but styled for everyday life.
Thanks to Vuori’s innovative fabrics and sleek, eye-catching designs, Kudla and his team were soon in business with reputable retail partners including REI, Nordstrom, Equinox, and Core Power Yoga. Today, Vuori offers products for men and women alike, each item meticulously designed with a new perspective on performance apparel that seamlessly transitions from physical activity to leisure and beyond.
“As devoted customers, it was apparent to us that Vuori had built versatile products with tremendous energy and soul,” Kossow said. “This is exactly the type of positive brand experience we search for in our consumer investments, and we look forward to supporting Joe and the team as they continue to bring new products to market and delight their customers.”
“Since launching Vuori, we’ve added so many incredible team members to our community, all of them completely aligned with our mission to deliver the best activewear in the market,” Kudla said. “From our employees to our retail partners, to the folks who drop by our stores just to say hello, starting this business has been a team effort since day one. We are thrilled that our team is further expanding to include Norwest, and look forward to what our partnership will bring.”
Photo courtesy Vuori
