LVMH Luxury Ventures has taken a minority stake in Aimé Leon Dore, a New York-based streetwear brand with a cult following. Under the terms of the deal, Aimé Leon Dore will continue to be based at its New York head headquarters, while LVMH Luxury Ventures will also offer support and guidance to the brand.
Established in Queens in 2014 by Teddy Santis, Aimé Leon Dore has gained a large following for its mainline collections and collaborations with brands, including Clarks, Drake’s and New Balance. The company's clothing line and accessories have captured the attention of many fashion critics for their New York City-influenced design, in particular, the 1990s hip-hop scene and pick-up basketball culture.
"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 for Aimé Leon Dore," founder Teddy Santis said in a statement.
BFKN was lead counsel to LVMH Luxury Ventures in connection with the investment. The team was led by Fashion, Luxury & Retail Group chair Daniel L. Dominguez and associate Kaitlyn E. Kelly, with additional support on Corporate matters from Brandon P. Knop and Will Cronin. Intellectual Property Group co-chair Scott J. Slavick and associate Nicole Chimienti assisted with intellectual property matters; Tax & Business Planning Group co-chair Michael J. Towne and associate Megan E. Toal provided guidance with respect to the tax aspects of the transaction; Compensation & Employment Group chair Andrew K. Strimaitis and partner Allison N. Powers advised on compensation, benefits and employment matters.
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