SAN FRANCISCO—Apparel manufacturer American Giant raises $9.3 million in funding. According to a report by the San Francisco Chronicle, the garment maker aims to reach at least $12 million through investors.
Founded in 2011, the company’s flagship product is a hooded sweatshirt that’s gained notoriety online through e-commerce channels. Since the company’s start, American Giant has expanded into other products including activewear and women’s sportswear. More recently, the company launched production on a line of denim jeans.
Helen Bulwik, founder of retail consultancy Pacific Art Group tells the newspaper that venture fundraising by apparel companies isn’t common, so the $12 million ticket is notable. “The money raised is indicative of growth, and the company can use it to expand anything from supply chain streamlining to more physical stores,” Bulwik states in the report.
The company also runs a primarily domestic operation, with manufacturing facilities located in California and North Carolina.