LVMH acquires stake in New York-based label Aimé Leon Dore
Luxury conglomerate LVMH has acquired a minority stake in the New York-based label Aimé Leon Dore for an undisclosed sum.
The investment was made through the conglomerate's LVMH Luxury Ventures arm, which was set up in 2017 to invest in up-and-coming designers.
Aimé Leon Dore will continue to operate from its New York City headquarters and will remain independent from LVMH, although in the future it will build on the conglomerate's infrastructure. As part of its expansion strategy a London boutique is reportedly in the works.
Teddy Santis founded the streetwear brand in 2014 and has amassed a cult following, collaborating with brands such as Clarks, Woolrich and Porsche. After a collaboration with New Balance last year, Santis was named Creative Director of its Made In USA line, kicking off a “multi-year relationship."
In a statement announcing the investment, Teddy Santis said: “LVMH’s vast network of global leaders across the industry and its rich history in growing exceptional storied brands offers a truly unique partnership opportunity to fuel the next chapter of growth Aimé Leon Dore.”
LVMH Luxury Ventures also recently invested in luxury streetwear mystery box start-up HEAT, raising $5m investment together with venture capital firm Antler.