This morning, six-year old athleisure brand Vuori announced an investment by Softbank of $400 million at a valuation of $4 billion. In its most recent capital-raise prior to this transaction, Vuori was valued in 2019 at about $200 million when Norwest Venture Partners invested $45 million in the company. Obviously, the founders, shareholders and Norwest have a big win on their hands.
There is very little public information on the financials of Vuori. But if you ask any ten people if they’ve heard of the brand, the odds are you will not get all ten saying yes. Because it’s a consumer brand, that’s an important indicator of the scale of the business. Those same ten people will have heard of Lululemon and other consumer businesses you know in the same market. Because Vuori has the potential for future growth that those brands don’t have, like opening stores and expanding awareness, it has higher growth potential than established brands. And based on the multiples we see right now for Lululemon, VF Corp.
VFC
and others, you can make the multiples make sense on the deal. For management and ownership, it’s a transaction they have to do because it’s so economically compelling; it’s smart of them to do this deal.
But what about the investor, Softbank? Are they going to make money on this investment? In order for that to happen, Vuori has to become the undisputed leader in atheleisure and it has to make money commensurate with that larger scale. There’s real potential for them to do it but Softbank is paying a full price for that potential and taking a risk in a volatile industry that Vuori will win.
Apparel created for the exercise industry is now going mainstream with very high valuations
Photo credit: Vuori
Other athleisure companies will point to this transaction to value their businesses. Although the businesses are comparable, it’s unlikely that another athleisure company will be able to replicate this kind of transaction in the foreseeable future.
Of the $400 million being invested, zero is going into the company and all of it is going to shareholders’ pockets. That’s important because shareholders who take out $400 million tend to change their focus from what it was before. But it can also be true that shareholders who have money in their pocket are eager to build even bigger and step on the gas without hesitation because they’re financially secure. Whether the team stays focused on growth or gets distracted will only be known after some time passes.
No matter what, it’s a singular transaction for the athleisure industry that is driven by the importance of casual apparel, even as more people return to work. No doubt Vuori, and other athleisure companies, are going to adapt their products to a work environment. A great deal of focus now is on clothes that can go from a hike to the office and out to dinner without changing, especially for men whose clothes are more similar from event to event. There is a real opportunity in the market right now to give men the clothes they will need now to go back to the office and the athleisure companies men have been wearing while they work at home have the inside track to provide those products if they can. Whether Vuori can fulfill the promise of a $4 billion valuation is not clear but certainly Softbank believes it’s real.
TORONTO – Canada’s main stock index was essentially unchanged Friday, while U.S. markets were mixed to end the week, with the Dow ekeing out a new record high.
The S&P/TSX composite index closed up 1.28 points at 23,867.55.
In New York, the Dow Jones industrial average was up 38.17 points at 42,063.36. The S&P 500 index was down 11.09 points at 5,702.55, while the Nasdaq composite was down 65.66 points at 17,948.32.
The Canadian dollar traded for 73.72 cents UScompared with 73.73 cents US on Thursday.
The November crude oil contract was down 16 cents at US$71 per barrel and the November natural gas contract was up 12 cents at US$2.72 per mmBTU.
The December gold contract was up US$31.60 at US$2,646.20 an ounceand the December copper contract was down a penny at US$4.34 a pound.
This report by The Canadian Press was first published Sept. 20, 2024.
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Validating the will. The court checks if the will is legal and valid.
Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
Create a will. Ensure a valid will is in place to avoid complications.
Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
Organize documents. Keep key financial and legal documents in one place for easy access.
Talk to your family. Have open conversations with your family to prevent future misunderstandings.
Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
