Investors are sweating athleisure brands

Fitness apparel is far from a core category for growth investors, but that hasn’t stopped leading brands from commanding huge valuations and exits. Of note:
 

• Vuori unveiled this week a $400 million investment from SoftBank that values the California company at $4 billion. The deal will fund international expansion plans.
   
• UK-based Gymshark is planning an IPO, Sky News reported, just a little more than a year after reaching unicorn status. General Atlantic led its only known round of institutional capital, driving about $300 million into the much-hyped company in August 2020.
   
• L Catterton-backed Sweaty Betty sold to Wolverine Worldwide in a $410 million all-cash deal in August.

The deals, along with the recent direct listing of Warby Parker and Allbirds' upcoming IPO, are evidence that the direct-to-consumer ecommerce revolution lives on.

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