Miguel McKelvey, former WeWork co-founder, has made a strategic move to acquire Proto, a renowned US apparel brand known for its sneakers.

McKelvey's acquisition of Proto, along with his controlling stake in American Giant, demonstrates his commitment to revitalizing American manufacturing and boosting its economic significance. This visionary entrepreneur aims to make a meaningful impact in various industries by aligning his fashion company ownership with his larger goal of rejuvenating American factories.

Proto, a collective focused on producing shoes in the US, was created through McKelvey's collaboration with shoe designers. This venture contributes to the revival of domestic shoe production, which has faced challenges such as outsourcing, automation, and global competition over the past few decades. McKelvey's investment and partnership in Proto showcase his determination to counter these obstacles and strengthen American manufacturing.

Manufacturing plays a crucial role in the US economy, fostering job creation, innovation, and overall economic growth. According to the National Association of Manufacturers (NAM), it supports approximately 12.3 million jobs, accounting for 8.6% of employment. Moreover, the manufacturing sector contributes significantly to the country's GDP, representing around 11.9% of the US GDP in 2020, totaling approximately $2.33 trillion.

The trend of reshoring or bringing manufacturing back to the United States has gained momentum in recent years. Factors such as rising labor costs in overseas markets, technological advancements, and an increased focus on quality control have contributed to this resurgence. The COVID-19 pandemic further emphasized the importance of resilient domestic supply chains, renewing the emphasis on domestic manufacturing.