One of the hottest labels in streetwear is about take it to new heights. LVMH Luxury Ventures has taken a minority stake in Aimé Leon Dore.
As spotted on Hype Beast the New York City brand has struck a deal with the Luxury Ventures arm of Moët Hennessy Louis Vuitton. On Monday, January 18 the French luxury giant’s venture capital arm confirmed an investment into the house of ALD. Dore’s founder Teddy Santis expressed his enthusiasm regarding the partnership in a formal statement. “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” he said.
While the financial details of the deal have yet to be disclosed the firm has confirmed that Aimé Leon Dore will continue to have autonomy regarding their designs and brand identity. Logically this news alludes to assisting the label expand internationally. According to WWD the brand plans to open a brick and mortar store in London as early as March of this year.
This not the first time Teddy has struck a deal with another company. In 2020 he was named Creative Director at New Balance. In a press release he explained why the deal with the fitness apparel made sense. “I was drawn to New Balance for the way it has built a business founded on values such as integrity and authenticity, rather than passing hype,” Santis said at the time. “I see a tremendous opportunity to tell authentic stories with real people at the forefront, creating global campaigns that connect our core values with the world.”
LVMH Luxury Ventures is a venture arm of LVMH Moët Hennessy Louis Vuitton and seeks to invest in the luxury sector. The firm is based in Paris, France and was founded in 2017.
LVMH Luxury Ventures Buys Minority Stake In Aimé Leon Dore was originally published on cassiuslife.com