The French luxury goods group LVMH is investing in the Norwegian bag brand Db Bags with its Luxury Ventures Fund I (LLV).
The minority stake by the LVMH investment fund is intended to promote the global expansion plans of the Scandinavian premium luggage and backpack brand, the parties announced on Thursday. The aim is to further expand the core markets in Northern Europe and accelerate growth in the USA and Asia. In addition, design innovations will also be promoted, which will result in the launch of an aluminum luggage line in 2026 as well as a range of golf travel luggage.
“The support from LLV is a big milestone for us,” says Db CEO Richard Collier. “Db will remain true to its core audiences in snow, surf and skate sports, but LLV’s global perspective, credibility and strategic vision align perfectly with our vision of what the brand can become.”
It is the first funding for the LLV in Norway and the second in Scandinavia, after the Swedish brand Our Legacy received support in November.
“Db has a strong position in Scandinavia with untapped growth potential in the rest of the world,” said Julie Bercovy, CEO of LVMH Luxury Ventures Advisors. “We are confident that Db will also become a global brand thanks to the expertise and full commitment of Truls, Richard and their team,” says Julie Bercovy, CEO of LVMH Luxury Ventures Advisors.
About DB Bags
Db Bags was founded in 2012 by entrepreneur Truls Brataas and freeskier Jon Olsson. The brand offers products such as bags, backpacks, luggage – from suitcases to surfboard bags – as well as travel accessories. All products are made from recycled materials, with luggage made from 70 percent recycled polyethylene terephthalate (PET).
The products are available at selected retailers such as Selfridges, Harrods, End Clothing, Baskets and Asphaltgold.