Clothing maker American Giant raised USD3.6 million in USD2.5 million funding round. Based on a filing with the Securities and Exchanges Committee (SEC), the company's Chief executive Bayard Winthrop and Pepsi Co's Donald Kendall were among those who contributed to this around. This was according to a report published by VentureBeat.
Columnist Farhad Manjoo of online magazine Slate had dubbed American Giant's sweatshirt "the greatest ever." Since then, orders had flooded the San Francisco-based company. The small firm scrambled to meet the demand. Winthrop said the hoodies were sold out in less than 36 hours.
American Giant now markets super soft shirts and slouchy zip hoodies. The company took advantage of its overnight success by marketing its clothes directly to its clients. The hoodie seller has eliminated the need for a physical store, the report said.
The clothing brand debuted in 2012. Since then, the company has achieved a quick growth. American Giant's products are made in the United States, VentureBeat reported.
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