Three fashion brands surpass $100 million revenue without outside investment
Three fashion brands, including Aviator Nation and SwissWatchExpo, have each surpassed $100 million in annual revenue without taking any outside investment. Their growth arrives as U.S. venture capital dropped to a six‑year low of $66 billion in 2025, a decline of 35% from the previous year.
Aviator Nation began in 2006 when founder Paige Mycoskie hand‑stitched clothes and sold them at Los Angeles street fairs, later taking only an $8,000 Wells Fargo bank loan to start operations. Mycoskie said she bootstrapped everything, kept costs low by doing her own photography, website programming and sewing, and she manages inventory with weekly sales reports to avoid over‑ or under‑stocking. SwissWatchExpo, founded by Jake and Victoria Rokhlin and now led by CEO Eugene Tutunikov, operates mainly online with one Atlanta store and holds about 2,500 pre‑owned luxury watches, generating over $100 million in annual sales. In September Aviator Nation struck a licensing deal with the NFL to create a collection featuring its 1970s‑inspired designs for 25 teams.
“When I started, I bootstrapped everything and kept operating costs super low because I was able to do most things myself,” Paige Mycoskie, Founder, Aviator Nation said.
“investor expectations can sometimes force leadership to prioritize short-term, headline-grabbing hyper-growth over long-term stability,” Eugene Tutunikov, CEO, SwissWatchExpo said.
During the late 2010s, low interest rates left venture capital eager to invest in fashion startups. More recently, the funding environment has tightened, pushing many brands to rely solely on their own resources.
What we know
The brand now does over $100 million in revenue and is sold in retailers like Nordstrom, Shopbop and Revolve.
Mycoskie told Glossy that the only investment she took on at the very beginning was a small bank loan from Wells Fargo for $8,000.
Founded by Jake and Victoria Rokhlin, the company has hit over $100 million in annual sales.
In 2025, U.S. venture fundraising fell to a six-year low with only $66 billion in VC money being distributed.
That was down 35% from the previous year.