French luxury goods group LVMH has acquired a minority stake in New York streetwear brand Aimé Leon Dore for an undisclosed sum.
Aimé Leon Dore will continue to operate independently from the New York office, while it will be supported and advised by LVMH, trade magazine WWD reports.
“LVMH’s vast network of global industry leaders and rich history of creating exceptional, storied brands offers a truly unique partnership to drive Aimé Leon Dore’s next growth chapter,” said Teddy Santis, Founder of Aimé Leon Dore.
LVMH focuses on streetwear
Founded in 2014 in Queens, New York, Aimé Leon Dore has garnered a following with its urban, New York City-influenced style and has worked with the likes of New Balance and Woolrich. Last year, founder Santis also became creative director of New Balance’s “Made in USA” line.
Aimé Leon Dore is planning to open a boutique in London in March as part of its expansion strategy, according to WWD.
LVMH Luxury Venture was launched in 2017 to support emerging luxury companies. Recent investments include New York-based luxury leather goods and ready-to-wear brand Gabriela Hearst and Los Angeles-based lifestyle brand Madhappy.
This translated post previously appeared on FashionUnited.uk.