Peter Thiel’s project capital firm, Founders Fund, has a portfolio that includes a few of the tech giants that form our world, including Facebook, Airbnb, Lyft, Spotify, SpaceX, and Postmates. But this week, in a bizarre twist, Founders Fund led a $four million investment in a women’s fashion label, Argent.
The emblem, co-founded with the aid of Sali Christeson in 2017, is a right away-to-purchaser workwear startup. Argent changed into born inside the Bay Area, and fulfilled a very particular need within the marketplace, catering to female specialists who are seeking out realistic office attire that appears polished, however not overly formal or female.
Christeson, who came from the tech industry, was privy to all the demanding situations that women face in male-ruled industries. She desired to create clothes that removed a number of the everyday hassles she noticed in girls’s workwear, like clothes that had been too tight or that didn’t have practical pockets. Since the logo released, woman professionals in San Francisco and New York have flocked to it, scooping up the emblem’s suits, attire, and blazers equipped with see-via iPhone wallet and key card pockets. Hillary Clinton was an early fan of the outfits, as became Kamala Harris.
Argent has been creative in its retail and branding strategy. It partnered with WeWork to create pop-ups, for the ladies who use the co-working area. It often hosts networking and career development workshops for these girls, with a purpose to create a vibrant network for them. And the brand has an edgy, slightly subversive aesthetic. One image at the website capabilities ladies in suits with Post-its on their foreheads with the phrases “competitive” and “bossy” scribbled on them, as a way to keep off against stereotypes of running ladies.
Founders Fund appears to be drawn to Argent because of its target consumers, who have a tendency to be rooted in tech. But the fund additionally appears to be slowly expanding its patron emblem portfolio. It recently invested in Ritual, a complement brand, and Year & Day, a tableware brand.