Activewear brand Vuori is talking to investment banks about a potential initial public offering by the middle of next year.
Vuori is looking for an IPO that would top its $4 billion valuation in its last funding round in 2021, according to a Bloomberg report on Friday, which cited people familiar with the matter. That financing round included funding from Japan’s Softbank (OTCPK:SFTBY).
Vuori may pick its advisers within weeks, though it hasn’t made a final decision and plans may change, according to the report.
California-inspired activewear brand Vuori announced a $400 million investment from Softbank Vision Fund 2 at a valuation of $4 billion in October 2021.
Vuori, which competes with activewear companies like Lululemon (LULU) and the Gap’s (GPS) Athleta brand, was launched in 2015.