Dallas-Based 2 The Moon Ventures Snaps Up Alvies, an Austin Cowboy-Boot Brand

With yeehaw style continuing to influence pop culture, from TV’s “Yellowstone” and “Landman” to Beyonce’s “Cowboy Carter,” a North Texas venture capital firm has corralled an Austin-based cowboy-boot brand, adding to its holdings in the space.

Dallas-based 2 The Moon Ventures said it acquired Alvies, a trendy Western bootmaker that was founded by Alvie Faulkenbery IV about a decade ago. Terms of the transaction weren’t disclosed.

Alvies founder Alvie Faulkenbery IV (left) and 2 The Moon Ventures founder George Baker Sr. (right) [Photos via 2 the Moon Ventures]

The VC firm said Alvies will continue to operate independently under its current leadership, while benefiting from 2 The Moon’s Strategic Resources Group. The firm’s SRG provides services including operations, technology, sales and marketing, and accounting and finance.

Acquisition of the Austin company complements 2 The Moon’s existing portfolio company, Rujo Boots.

Rujo, based in Dallas, focuses on premium, exotic leather designs and direct-to-consumer pricing. Its boots—like Alvies’—are handmade in Leon, Mexico, which is known as the Cowboy Boot Capital of the World for its longstanding local boot-making industry.

“By backing both Alvies and Rujo Boots, the firm is investing in brands that honor tradition while pushing the category forward through direct-to-consumer innovation, brand storytelling, and community engagement,” said Brian Castle, operating partner at 2 The Moon.

Other firms in 2 The Moon’s portfolio include ParkHub and Hari Mari, both based in Dallas, and Austin’s Tiff’s Treats.

‘The brand voice is contagious’

Alvies, whose tagline is “Made with Soul,” began life selling its boots out of an Airstream trailer in downtown Austin.

Under Faulkenbery, a sixth-generation Texan, the company has become known for its signature “fast break-in boots” and its customer experience-driven culture, as illustrated by its unique “Boot Parties.”

The latter are personalized boot-fittings where Alvies staffers bring a selection of boots and sizes direct to customers at sites around Austin.

Alvies brand photo featuring men’s and women’s boots [Photo: Loop 1 Photography/2 the Moon Ventures]

“We look for founders with a real IT factor, and we’ve found one in Alvie Faulkenbery,” 2 The Moon founder and managing partner George Baker Sr. said in a statement.

“We love Alvie’s customer-first approach, exemplified by the experience he’s created both online and through boot parties that share a love of the fashion, music, and culture of Austin and Texas,” Baker said. “The brand voice is contagious, and with the right resources, we’ll take Alvies to iconic status in the world of Western wear.”

Over the next year, Castle said, Alvies customers can expect to see new partnerships with cultural icons like Billy F. Gibbons—the ZZ Top star helped design, and wears, Alvies’ BFG boot model—as well as some new distribution channels.

Citing a report from Maximize Market Research, 2 The Moon said the global cowboy-boot market, which was $269.7 million in 2023, is expected to reach nearly $428 million by 2030. The growth is being fueled by the enduring appeal of Western fashion and continuous innovation by industry participants, among other things, the VC firm added.

Faulkenbery and Baker were scheduled to be in conversation at this year’s Texas Venture Gala and Forum in Austin on Thursday, May 29.

Castle said the two would be discussing Alvies and Rujo Boots, the Alvies acquisition by 2 The Moon, and the importance of brand voice, community, and cultural storytelling in driving business success.