The LVMH fund has just acquired a stake in the Db brand, specializing in leather goods and luggage, a few weeks after investing in Our Legacy.
LVMH focuses on Db luggage and bags
The LVMH fund seems to have a strong interest in Scandinavian brands. Last November, LVMH Luxury Ventures took a stake in the Swedish fashion house Our Legacya first for the company in this territory. Today, the latter has just taken a minority stakewhose height has not been communicated, within the Norwegian brand Db.
Founded in 2012 by a duo of entrepreneurs and freeskiers, and initially named Douchebags, the house is known for its functional bags and solid that meet the needs of athletes and outdoor activity enthusiasts, including its loyal community of snowboarders, skiers, surfers and skateboarders.
“DB is a benchmark in the luggage industry, combining truly distinctive design, high quality and functionality, and catering to a close community of outdoor enthusiasts, athletes, creatives and passionate travelers, with whom the brand maintains close ties” said Julie Bercovy, CEO of LVMH Luxury Ventures Advisors, in a press release.
The brand recently opened a store in Tokyo and will be able to count on LVMH Luxury Ventures to establish yourself in several geographical areas. The financing of the investment fund should allow Db to “doubling its core markets in Northern Europe, as well as accelerating growth in the United States and Asia” as the house explained. She also intends to tie “strategic partnerships” to develop its network and reach a new audience.
While the giant LVMH has already owned the luxury suitcase specialist Rimowa since 2016, but also brands well-established in the world of travel bags such as Louis Vuitton and Moynat, this financial support operates within a market in full expansion. Research firm Mordor Intelligence estimates that the global luggage industry is expected to record a rate of annual growth of +7% from 2024 to 2029, in particular thanks to the growth of high-end tourism.
