LVMH Luxury Ventures Acquires Minority Stake In Streetwear Brand Aimé Leon Dore
LVMH Luxury Ventures has acquired a minority stake in New York-based streetwear brand, Aimé Leon Dore, for an undisclosed amount.
“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,” said Teddy Santis, founder of Aimé Leon Dore.
Under the terms of the deal, Aimé Leon Dore will continue to operate independently from its New York head office, while LVMH will offer support and guidance to the brand.
Sources close to the deal revealed that in addition to its current New York flagship location, the brand also plans to add another site in London early this year.
Aimé Leon Dore was originally founded in 2014 and has since gained a tremendous and noteworthy following due to its mainline collections and collaborations with labels including Clarks, Drake’s and New Balance.
The hype and recognition around Aimé Leon Dore ultimately led to Santis’ appointment as the creative director at New Balance, Made in USA, last year.
Originally published at https://retailbum.com on January 19, 2022.