Paris-based LVMH Luxury Ventures has taken a minority stake in New York-based Aimé Leon Dore. an upscale streetwear label launched by Queens-native Teddy Santis in 2014. Making use of an entirely direct model, the brand currently operates an online store and a retail location in Manhattan where it also operates Café Leon Dore, which serves coffee and Greek pastries reflecting the birthplace of Santis’ parents. According to WWD, the brand will make use of the investment to expand it footprint with a London store.
In addition to the label, Santis is known for his well-regarded collabs with Kith, Woolrich, Suicoke, Timberland, New Era, Paraboot and Porsche. Santis is best known for his collaborative efforts with New Balance, which announced him as creative director of New Balance’s Made in USA label in April 2021.
Commenting on the influx of cash Santis said, “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.”
LVMH Moët Hennessy Louis Vuitton established LVMH Luxury Ventures in 2017 with a goal of investing in early-stage streetwear and luxury labels viewed as having high growth potential and differentiated approaches.
While the financials of the investment have not been disclosed, according to LVMH Luxury Ventures’ website typically makes investments from 2 million to 15 million euros with a focus on companies with revenues between 3 million and 30 million euros with stakes ranging from 5 percent to 25 percent.
The investment reflects LVMH ongoing interest in staking a claim in streetwear, a space it no doubt views as continuing to gain share within menswear.
