LVHM Luxury Ventures has formed a “partnership” with Stadium Goods, the New York City-based sneaker consignment giant.

While terms of the partnerneship were not disclosed, WWD reports that the deal will help Stadium Goods expand, and that the brand had previously “considered doing something in the merch space and opening a second location.”

The sneaker site launched in 2015 and the company has a retail store at 47 Howard Street in lower Manhattan.

Launched in 2017, LVHM Luxury Ventures has the sole mission of funding emerging brands within the luxury space in exchange for minority stakes in order to help them thrive and grow. LVMH Moët Hennessy Louis Vuitton owns 70 luxury brands, including Christian Dior, Louis Vuitton, Bulgari, Fendi and Givenchy.

Photo courtesy LVHM Luxury