LVMH buys into Swedish label Our Legacy
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LVMH has acquired an undisclosed minority stake in Swedish fashion brand Our Legacy, The Business of Fashion reported.
The transaction comes following Our Legacy posting sales of €40 million (US$42.9 million) in the year ended June 30.
Our Legacy will use the proceeds of the transaction to strengthen operations and open flagship stores in key cities such as Paris, New York, Los Angeles, Tokyo, Shanghai, and Hong Kong.
Currently, Our Legacy has two stores in Stockholm, one in London and one in Berlin. It also has three stores in South Korea, in partnership with local distributor Handsome Corp.
The brand is set to open a new store in Paris in late next year.
“It’s not like we needed the investment from a cash-flow perspective – our revenue figures doubled three years in a row and we achieved really healthy profitability,” Jockum Hallin, Our Legacy co-founder, told the BOF.
“It’s more to look to the future as we build the next era.”
Questions & Answers
Q.What will Our Legacy use the funding from LVMH for?
What will Our Legacy use the funding from LVMH for?
Our Legacy plans to use the transaction proceeds to strengthen its operations. The brand also intends to open new flagship stores in major global cities, expanding its physical retail presence significantly.
Q.How many stores does Our Legacy currently operate worldwide?
How many stores does Our Legacy currently operate worldwide?
Our Legacy currently has seven stores globally. There are two in Stockholm, one in London, one in Berlin, and three in South Korea through a partnership with Handsome Corp.
Q.What is Our Legacy's financial performance like before this investment?
What is Our Legacy's financial performance like before this investment?
Our Legacy recorded sales of €40 million in the year ending June 30. Its co-founder stated that revenue figures doubled for three consecutive years, achieving strong profitability, indicating robust financial health.
Q.When is Our Legacy planning to open its new store in Paris?
When is Our Legacy planning to open its new store in Paris?
Our Legacy is scheduled to open a new store in Paris late next year. This is one of the key cities identified for expansion using the investment from LVMH.
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