LVMH Luxury Ventures invests in New York-based streetwear label Aimé Leon Dore

The investment arm of French luxury group LVMH has snapped up a minority investment in New York-based streetwear brand Aimé Leon Dore for an undisclosed sum.

LVMH Luxury Ventures said Aimé Leon Dore will continue to operate independently out of its New York offices while receiving support and guidance from LVMH, WWD reports.

The brand’s founder Teddy 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 bets on streetwear

Founded in 2014 in Queens, Aimé Leon Dore has grown a cult following of fans for its urban style influenced by New York City, and has previously collaborated with the likes of New Balance and Woolrich.

Last year, founder Santis also became the creative director of the ‘Made in USA’ line of New Balance.

Sources told WWD that Aimé Leon Dore plans to open a boutique in London as early as March as part of its expansion strategy.

LVMH Luxury Venture was set up in 2017 to support up-and-coming luxury businesses.

Current investments include New York-based luxury leather goods and ready-to-wear brand Gabriela Hearst, and LA-based lifestyle brand Madhappy.