LVMH — the parent company of brands including Louis Vuitton, Dior and CÉLINE — announced plans for its Luxury Ventures initiative last year with the aim of acquiring minority stakes in emerging luxury brands. The latest brand to get backing from the programme is New York’s Stadium Goods.
Details on what role LVMH Luxury Ventures will take in the reseller are unclear, although it is rumored that this backing could allow Stadium Goods to expand. The store — which is the location for most Sneaker Shopping episodes — has been open for just over two years and the team behind have previously told WWD about potential plans to move into merch and open a second physical location. Back in 2017, prior to LVMH’s backing, Stadium Goods raised $4.6 million USD in equity funding and was predicted to gross more than $100 million USD in 2017.
In other footwear-related news, Virgil Abloh recently teased a Mercurial VaporMax hybrid.