LVMH Invests In Madhappy
LVMH, known as the world’s largest luxury manufacturer, has recently decided to invest in Madhappy, a new fashion brand.
Madhappy, is a fashion brand that has primarily built its fame from pop-up shops. LVMH has an investment arm that looks into promising brands. Recently, they invested $1.8 million in the latest round. Additionally, the founders of Sweetgreen and Tommy Hilfiger invested in the brand.
Madhappy was established by a group of individuals who were friends in high school. Additionally, they were all in their twenties when the brand was established.
Since its establishment, the brand has been worn by numerous celebrities including Gigi Hadid.
"We felt that there was a lot of negativity both in the world and in the space at the time of our launch and we wanted to be the opposite of that," cofounder Peiman Raf said.
Given its success with pop up stores in Los Angeles, it has decided to pursue pop up stores in Miami, New York and Aspen. The clothing line has expanded to include loungewear for both men and women.