SoftBank-Backed Vuori Takes on Lululemon With Global Expansion

Vuori Inc. has big ambitions, and with the help of SoftBank’s deep pockets, it’s getting the chance to show if it can become the next Lululemon.

The latest phase of the activewear brand’s expansion arrived on Thursday with its first store in New York. The closely-held company, valued at $4 billion after a $400 million investment from SoftBank a year ago, expects to be operating about 30 locations by yearend and could nearly double that total in 2023. On the international front, Vuori began offering e-commerce in China and other foreign markets last month.

“They’re definitely becoming a bigger ...