LVMH has acquired an undisclosed minority stake in Swedish vogue model Our Legacy, The Enterprise of Style reported.
The transaction comes following Our Legacy posting gross sales of €40 million (US$42.9 million) within the yr ended June 30.
Our Legacy will use the proceeds of the transaction to strengthen operations and open flagship shops in key cities reminiscent of Paris, New York, Los Angeles, Tokyo, Shanghai, and Hong Kong.
Presently, Our Legacy has two shops in Stockholm, one in London and one in Berlin. It additionally has three shops in South Korea, in partnership with native distributor Good-looking Corp.
The model is ready to open a brand new retailer in Paris in late subsequent yr.
“It’s not like we would have liked the funding from a cash-flow perspective – our income figures doubled three years in a row and we achieved actually wholesome profitability,” Jockum Hallin, Our Legacy co-founder, informed the BOF.
“It’s extra to look to the longer term as we construct the subsequent period.”
