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Vuori, founded in 2015, plans to expand its Western European and Asian markets next year and open more than 100 U.S. stores in the next five years. SoftBank's investment is one of the largest in a private apparel company, Vuori said, adding it was the second investor to back the company after Norwest Venture Partners' investment in 2019.
Shares in The Hut Group plunged by more than a third on Tuesday after a disastrous meeting between founder Matthew Moulding and City shareholders.
LONDON (Reuters) -Softbank-backed online retailer THG lost over a third of its value on Tuesday after it held a presentation for investors that had been intended to reassure the market it could reverse a recent share price slide. "What I think has prompted the selloff is a number of different factors," said Susannah Streeter, an analyst at Hargreaves Lansdown. She listed profit warnings in the online retail sector, rising interest yields denting the appeal of growth companies and the planned spin off of THG's beauty arm.