As a seasoned fashion enthusiast with a penchant for timeless, contemporary styles, I can’t help but feel a thrill of anticipation at LVMH’s recent investment in Our Legacy. Having followed their journey from the start, it’s heartening to see a brand that pays homage to our grandfathers’ wardrobes yet resonates so strongly with today’s fashion-forward individuals secure such a significant boost.
LVMH, a global luxury corporation, has bought a partial ownership in Our Legacy, a contemporary Swedish fashion house recognized for designing “timeless pieces reminiscent of your grandfather’s wardrobe” for the present day. The investment arm of this multinational conglomerate, focused on backing emerging luxury brands, has put an unspecified amount into Our Legacy, which is currently headed by co-founders Jockum Hallin, Cristopher Nying, and Richardson Klarén.
As a passionate gamer, I can’t help but share the excitement about being part of the gaming community that’s growing alongside the fashion world. Just recently, the Stockholm-based brand I admire has secured backing from LVMH, making it one of the two sought-after menswear labels to receive this support in recent times, following LVMH’s investment in Teddy Santis’ Aimé Leon Dore in 2022. Interestingly, LVMH Luxury Ventures has previously backed other labels like Gabriela Hearst, Heat, and Stadium Goods too. It’s amazing to see the fusion of technology and fashion happening right before our eyes!
Our company, “Our Legacy,” is currently witnessing swift expansion. Last fiscal year, we recorded sales amounting to approximately €40 million EUR ($43.6 million USD). This represents a significant leap of around €30 million EUR as compared to the previous year. With LVMH, our aim is to continue this growth trajectory and extend our reach even more.
Hallin stated that while our revenue has been growing significantly, with figures doubling for three consecutive years and generating substantial profits, we’re not primarily seeking investment for immediate cash flow purposes. Instead, he emphasized that the investment is aimed at shaping the future as we enter a new phase in our company’s development.
In her statement, Julie Bercovy, CEO of LVMH Luxury Ventures, noted that “Our Legacy embodies the essence of the ‘quiet cool’ movement. It combines modern minimalism with creative rebellion in a distinctive way. I am firmly convinced that it has the power to expand the boundaries of men’s fashion beyond its existing fan base, all while staying true to its core and original identity.
At present, Our Legacy’s physical stores can be found in South Korea, Stockholm, London, and Berlin. The brand is also available in approximately 250 high-end retailers worldwide. With the recent investment, the brand aims to boost its direct-to-consumer sales by opening additional stores in cities such as Paris, New York, Los Angeles, Shanghai, Tokyo, and Hong Kong. Plans include unveiling a flagship store in Paris towards the end of next year.
According to Hallin, LVMH Luxury Ventures isn’t planning on altering our current product lineup significantly. In fact, some of our top-selling items were launched half a decade ago. Instead, the investment will serve to finance unique projects, enhance storytelling initiatives, and attract high-profile personnel to Our Legacy.
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2024-11-08 00:56