LVMH, the French-based luxury conglomerate, has invested in New York-based streetwear label Aimé Leon Dore. The minority stake investment was made through its LVMH Luxury Ventures arm, which focuses on investing in emerging labels.
Terms of the agreement were undisclosed.
Established in Queens in 2014 by Teddy Santis, Aimé Leon Dore has gained a large following for its mainline collections and collaborations with brands, including Clarks, Drake’s and New Balance. Building on that collaboration, Santis was named Creative Director of New Balance’s Made in USA line last year. The company’s clothing line and accessories have captured the attention of many fashion critics for their New York City-influenced design, in particular, the 1990s hip-hop scene and pick-up basketball culture.
Under the terms of the deal, Aimé Leon Dore will continue to be based at its New York head headquarters, while LVMH Luxury Ventures will offer support and guidance to the brand.
“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 for Aimé Leon Dore,” Santis said in a statement.
LVMH’s brands include Christian Dior, Fendi, Givenchy, Marc Jacobs, Stella McCartney, Loewe, Loro Piana, Kenzo, Celine, Fenty, Princess Yachts, TAG Heuer, and Bulgari.
