The latest fashion duo that have caught our eye is luxury conglomerate LVMH and New York-based label Aimé Leon Dore. The LVMH Luxury Ventures arm—focused on investing in emerging labels, rolled out in 2017, and is a vertical that aims to buy stakes in luxury companies with sales between 2 million and 5 million euros ($2.18-$5.46 million USD)—companies with real high-growth potential—regardless of category. Since its inception, LVMH Luxury Ventures has focused on the U.S. market.

Some of their recent partnerships include New York-based fashion brand Gabriela Hearst, Los Angeles-based lifestyle brand Madhappy, New York-based watch media and e-commerce platform HODINKEE, Paris and New York-based turnkey social selling software company Replika Software, and Los Angeles-based clean skincare brand Versed. Aimé Leon Dore will join those ranks.

The undisclosed value of the deal is really noteworthy for a few reasons. Firstly, it shows the strength of the new EVP or Product and Communications, Mr. Arnault, and what transactions he can bring in for LVMH. Secondly, it also shows the importance of young streetwear brands, and the impact they have on the Gen Z and millennial generations. Finally, it shows that big luxury conglomerates are realizing the potential and standing behind it.

Aimé Leon Dore, founded in 2014 by Teddy Santis, is a coveted streetwear label that has worked with Drake’s, New Balance, and Clarks. In fact, Santis was even named the creative director of New Balance just last year. Known for their sneaker collaborations and highly coveted products that people go crazy for, there is big hope for their partnership with LVMH, who has more resources and funding to do really big things.

In terms of this investment, LVMH Luxury Ventures will own a small amount of the NYC label. ALD will continue to have their New York head offices and receive support and guidance from LVMH. In a statement announcing the partnership, 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 Aimé Leon Dore.”

Aimé Leon Dore collections are inspired by 1990s hip-hop and pick-up basketball culture. With the help of LVMH, the brand plans to open up a boutique in London later this year.

You can check out the Spring/Summer 2022 lookbook from Aimé Leon Dore now. Last year, we saw Jay-Z partner with LVMH as well to grow his Armand de Brignac brand.

Photo via Aimé Leon Dore