LVMH’s Latest Investment: Why Our Legacy Is Now in the Luxury Giant’s Portfolio
What's next for this "quiet cool" menswear brand?
If you recall, a couple of weeks ago, I mentioned the brand Our Legacy in my “Where to Shop (Not Zara Edition)” post. If you haven’t, I highly recommend checking it out *wink wink*.
Just 12 days after that post, Our Legacy made headlines when LVMH Luxury Ventures acquired a minority stake in the brand. While the financials surrounding the deal remain undisclosed, this acquisition signifies Our Legacy’s impressive growth and future momentum. For context, the Swedish brand reported €40 million in sales this year alone, a steady climb from €30 million in 2022 and €8 million in 2021.
Brand Identity and Key Collaborations
Since its inception 19 years ago, Our Legacy has capitalized on shunning trends, opting to produce high quality garments inspired by vintage and archival fashion, offered at a contemporary price point (€150 - €1,500). Its flagship items, like wide leg denim and outerwear, are sold at 250 stockists and in their flagship stores in Stockholm, London and Berlin. The brand also leverages collaborations to fuel its growth and brand awareness. Through “Our Legacy Workshop”, its sub label focused on sustainability, they’ve released capsule collections with brands such as Stussy and, more recently, Emporio Armani, crafting unique reworked pieces using deadstock that blend the aesthetics of both brands.
Future Projects
Expansion seems to be the key word for Our Legacy’s founders. The US is now its largest market with the UK and Korea leading in Direct to Consumer (DTC) sales. The founders plan to open two new stores a year in fashion epicenters like New York and Milan.
In addition to its physical growth, Our Legacy is set to scale up its womenswear line—launched in 2018—which currently makes up 20% of its business. With pop-ups at retailers like Dover Street Market and showcasing collections through lookbooks, the brand is building momentum. Hallin, one of the three founders, even hints that runway shows could be on the horizon, aligning with LVMH’s vision.
LVMH Ventures’ Role and Broader Implications
For those concerned about LVMH’s role in all of this, the founders’ confidence should reassure you. As a minority investor, LVMH Ventures plans to take a hands off approach, playing a more observational role, similar to its strategy with its other investments in brands such as Aime Leon Dore in 2022 and Gabriela Hearst.
Continuous investments in mid range brands seems to be part of the conglomerates’s broader strategy to diversify beyond ultra luxury, its main focal point. Within this year alone, LVMH’s sales fell by 3% which was driven by declining sales in the Chinese market and broader macroeconomic challenges in key economies including inflation and low consumer confidence.
Given these shifts, LMVH’s diversification strategy just makes sense. Over the years, mid range fashion brands have blurred the lines between affordable and high fashion with its goldilocks pricing strategy — not too expensive, not too cheap but justtt right. The success of emerging contemporary labels in this space largely stems from social media—particularly Instagram—which lets brands shape their own narratives through lifestyle-driven advertising of design-forward pieces that capture a high-fashion look at a more accessible price point (think Nanushka). This approach appeals to style conscious consumers who want to cultivate a personal style without relying on fast fashion or over indulging on designer items.
Looking Ahead
I’m excited to see where Our Legacy goes in the next five years. Will it hit its ambitious goal of €100 million in revenue? If not, as co-founder Jockum Hallin puts it, “something has stopped working.” What do you think—can Our Legacy keep up the momentum, or will it face unexpected hurdles along the way?
