Why did LVMH invested in Our Legacy?

There comes a time in every brand’s life when to fuel growth, it needs to find an external investor. And Our Legacy, which has just had an extraordinary year where its sales increased from eight million in 2021 to thirty million last year and forty million this year, couldn’t ask for a better scenario: it was announced last night that LVMH Luxury Ventures acquired a minority stake in Our Legacy. Julie Bercovy, CEO of LVMH Luxury Ventures Advisors, described Our Legacy as the embodiment of the "quiet cool" trend — that slightly minimal style with a touch of grunge and workwear that the brand has championed over the years. Beyond the style itself, however, the most interesting characteristic of the brand was perhaps its loyal and growing clientele.

Something similar happened when LVMH’s investment arm acquired minority stakes in Gabriela Hearst and Aimé Leon Dore (perhaps the bright and cheerful version of Our Legacy), following a strategy aimed at supporting high-potential brands without integrating them into the conglomerate’s structure. The brand's expansion plans include entering new markets, opening flagship stores, and almost certainly expanding the product range — with a bit of cynicism, one might add, raising prices. In the most optimistic forecasts, the new investors will enable Our Legacy to maintain its creative independence while benefiting from LVMH’s operational expertise and market knowledge. Now, the most pressing question is: Will Our Legacy become mainstream?

The reason why Our Legacy is so beloved by its community lies precisely in its nature as a small and independent brand, grown organically over the years through consistent word of mouth, later expanding through progressively cooler collaborations that culminated this year in a capsule co-signed with Emporio Armani. Beyond individual products, some of which, like the Camion Boots or cardigans, have become modern, highly-appreciated hits, Our Legacy has created a style, a look that is avant-garde enough to captivate fashion insiders while still being normcore enough for everyday wear — propelling it towards success. The brand knows its audience well, and thus the new challenge it faces will be to expand its reach while maintaining its identity. This should not be difficult, as the brand's style is already based on a commercial product, updated progressively and at a deliberate pace that has given the brand a strong sense of continuity and creative integrity over the past few years. Undoubtedly, Our Legacy will become more mainstream now — but it will do so on its own terms. It is also worth noting that the reason LVMH invested in the brand is precisely due to this stable and resilient market presence that must not be lost.

Finally, the investment in Our Legacy is part of a wider trend in the luxury sector, where major players like LVMH explore opportunities with emerging brands positioned either in the mid-to-high market or in extreme luxury. For instance, recently, the Wertheimer family of Chanel and the Bettencourt Meyers family of L’Oréal acquired minority stakes in The Row. It is a slow and cautious strategy that reflects a growing recognition of fashion brands outside the traditional top of the luxury pyramid. “There’s limited space at the top of the luxury market,” James Harris of Throwing Fits told Vogue. “Investors are recognizing a new tier of high-quality brands with a loyal following. Our Legacy, with its steady and genuine growth, is representative of this segment, and LLV’s support signals confidence in this alternative luxury model.”