LVMH Luxury Ventures Fund, the venture capital arm of Bernard Arnault’s towering luxury empire, has acquired a minority stake in the insidery Swedish fashion brand, Our Legacy. To men’s fashion zealots of a particular vintage, Our Legacy is now the little Scandinavian brand that could – with the LVMH co-sign to prove it. “All of a sudden, we’re a bigger brand at a different, new level,” said Jockum Hallin, one of Our Legacy’s co-founders.
“Its brand image is very cult,” said Julie Bercovy, CEO of LVMH Luxury Ventures Advisors. Our Legacy, she said, is “under the radar, but on our radar”. Bercovy said the fund was compelled by Our Legacy’s recent financial performance, as well as its strong brand identity, which she described as “quiet hype”, a youthful twist on the quiet luxury trend.
The terms of the deal have not been disclosed, but Bercovy said the investment was in line with the fund’s previous investments, which are as much as US$25mil (approximately RM110mil) for as much as 25% of a company. The investment stands to give Our Legacy a significant leg up, both financially and reputationally. Read more: Forget handbags, it is now designer pants that offer a certain status symbol Founded in 2005 by Hallin, his childhood friend Cristopher Nying and Richardos Klaren, the brand’s early collections had a whispery Scandinavian prep look, marked by belted cardigans and unobtrusive checked button-ups.
Our Legacy unfurled its freak flag over the next.
