As a seasoned gamer with a penchant for both virtual and real-life adventures, this news about LVMH’s investment in Db has me more than just a little excited! Having lugged around substandard, bulky bags on countless trips to exotic locales (and some not-so-exotic ones), I can attest to the joy of finding a well-designed, durable bag that seamlessly transitions from city streets to rugged terrains.
The LVMH Luxury Ventures Fund (LLV) has bought a small portion of shares in popular Norwegian luggage brand Db, which is its first investment in Norway and the second in Scandinavia. This news follows closely on the heels of LLV announcing a similar investment in Swedish fashion label Our Legacy just a few weeks ago.
Established in 2012 by entrepreneur Truls Brataas and free-skier Jon Olsson, Db has amassed a passionate following from its Oslo base, attracting thrill-seekers, sports enthusiasts, and contemporary wanderers with its functional and remarkably useful bags. Db presents a streamlined product line – one might call it “minimalist” when contrasted with other luggage brands catering to similar demographics – offering backpacks, duffels, and totes that transition effortlessly between urban living and the next exciting journey. The brand designs luggage with a fashion-forward, modern traveler in mind, crafting bags from a blend of metal and polycarbonate materials that are as stylish as they are durable. Typically, the company offers only a few color options for some of its models – sometimes just one.
As a dedicated follower of Db’s journey, I’m thrilled to share that Richard Collier, the CEO of Db, has revealed to me exclusive news about their first significant funding round. This financial boost will propel Db forward on a global scale, with aspirations to amplify its brand presence through strategic alliances, fortify its core North European markets, and speed up growth in the bustling US and Asian markets.
Indeed, while this is Db’s biggest investment to date, it also marks the first time that LVMH’s LLV has invested in a B Corp certified company. According to B Corp’s official website, “Certified B Corporations, or B Corps, are companies verified by B Lab to meet high standards of social and environmental performance, transparency and accountability.” In other words: B Corps often have a guiding sense of purpose that dictates and impacts both how they manage and how they deliver their top and bottom lines – a company morality that’s hard to find and easy to lose in today’s hyper-corporate world.
This investment from a major global retail player may raise questions about how it affects a modest Scandinavian brand like Db in the future, and what changes we might see as a result. Collier, CEO of the company, mentioned to TopMob that “the fund supports Db’s B Corp status” and hinted at Db continuing its sustainability efforts by launching a ‘repair and re-commerce’ service in Europe during Q2. Moreover, Db has expressed plans to expand its retail presence in new markets as a pathway to global success, with the UK, Denmark, Netherlands, and the Baltics being among the regions currently lacking a physical Db store.
Keep an eye out, I can’t wait to see how this game’s story unfolds next! I’ll be sure to share updates as soon as they come my way.
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2024-12-06 02:26