LVMH Group's venture capital division invests in New York-based trend brand Aimé Leon Dore

LVMH Luxury Ventures, the venture capital arm of lvmh group, announced that they have acquired a minority stake in New York-based trend brand Aimé Leon Dore, whose terms of investment have not been disclosed. LVMH Luxury Ventures typically aims to invest between €2 million and €15 million.

Aimé Leon Dore confirmed the minority investment in a press release and said they would accelerate expansion with the support of LVMH Luxury Ventures. Upon completion of the transaction, the brand will continue to operate independently from its New York base.

Aimé Leon Dore is a Queens, New York-based fashion and lifestyle brand founded in March 2014 by Teddy Santis. Aimé Leon Dore blends street style and retro fashion to offer consumers quality products at reasonable prices, and its design style is inspired by New York's 1990s hip-hop scene and basketball culture. Kith, Puma, Timberland, Woolrich, Paraboot, New Era, Clarks and Porsche have partnered with many trend, sports and luxury car brands, with the new Balance being the most famous.

Teddy Santis, founder of Aimé Leon Dore, said: "The LVMH Group's vast network of global industry leaders, as well as its rich history in developing legendary brands of excellence, offer a truly unique opportunity for aimé Leon Dore's next phase of growth. ”

The investment appears to be the latest deal brokered by Alexandre Arnault, the second son of LVMH chairman and CEO Bernard Arnault.

Alexandre Arnault has been involved in several LVMH investment deals in recent years, such as champagne brand Armand de Brignac: In February 2021, LVMH Group acquired a 50% stake in rapper Jay-Z's champagne brand Armand de Brignac (see Ornate: for details: "Magnificent"), an acquisition confirmed by Alexandre Arnault himself on Instagram.

Alexandre Arnault, who was previously CEO of Rimowa, a German premium luggage brand owned by the LVMH Group, came to LVMH's newly acquired American jewelry brand Tiffany & Co. last January as Executive Vice President of Products and Communications.

LVMH Group's interest in Aimé Leon Dore seems to indicate its recognition of the influence that some of the relatively young American brands currently enjoy in the market. In July 2021, LVMH Group also acquired a 60% stake in New York fashion company Off-White LLC, which owns the trademark rights to the famous fashion brand Off-White founded by American designer Virgil Abloh. Virgil Abloh, who is also the creative director of menswear for the Louis Vuitton brand of the LVMH group, died of cancer four months later.