Per a report from Business of Fashion on Tuesday, LVMH Luxury Ventures—the Paris-based luxury conglomerate’s investment division—has taken a minority stake in the Teddy Santis-founded label in the form of an “undisclosed sum.”
To be clear, the ALD team will remain independent in terms of operation, which will continue out of its New York City offices. Moving forward, however, those operations will now be further emboldened thanks to “support and guidance” from the LVMH infrastructure. ALD, per a separate report from Women’s Wear Daily, is also said to be planning to open a London boutique.
Complex has reached out to a rep for LVMH for comment.
ALD, notably, was among those selected by Complex as the best brands of 2021. Highlighted in the ranking as the label’s biggest 2021 moments were the release of its second collab with Porsche and the launch of its second International Friendship Through Basketball campaign with New Balance.
Also last year, Santis was named creative director of New Balance Made in USA, marking what was billed at the time as the kickoff of a “multi-year relationship.” In a statement initially shared last April, Santis said the pairing represented a chance to share “authentic stories” via worldwide campaigns.
“I was drawn to New Balance for the way it has built a business founded on values such as integrity and authenticity, rather than passing hype,” Santis said at the time. “I see a tremendous opportunity to tell authentic stories with real people at the forefront, creating global campaigns that connect our core values with the world.”