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The world's biggest luxury company invested in an up-and-coming LA streetwear brand that's worn by by Gigi Hadid and Cardi B. Here's everything we know about it.

LVMH Luxury Ventures , the investment arm of LVMH, recently invested in trendy LA streetwear brand Madhappy.

Madhappy
  • According to Business of Fashion , LVMH led a $1.8 million seed round of funding into the company; Tommy Hilfiger and the founders of buzzy salad chain Sweetgreen also invested.
  • In just over two short years, Madhappy has gained a cult following of fans, including Gigi Hadid and Cardi B, with its trendy loungewear.
  • Here's everything we know about the brand.
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The world's largest maker of luxury has invested in an up-and-coming LA streetwear brand that's targeted at Gen Z and millennials shoppers.

According to Business of Fashion , LVMH Luxury Ventures, the investment arm of the luxury conglomerate, led a $1.8 million round of funding into Madhappy; Tommy Hilfiger and the founders of Sweetgreen also invested in this round.

LVMH Luxury Ventures was set up in 2017 to invest in emerging brands with " strong growth potential. " Since then, it has invested in Gabriela Hearst and French apothecary brand l'Officine Universelle Buly.

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Here's everything you need to know about Madhappy:

Source: Teen Vogue

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"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 in a recent interview with Forbes .

He continued: "We are about creating incredible products and experiences that uplift all people who interact with the brand. It all started from the paradox of the name Madhappy and grew into a movement focused on spreading positivity."

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Madhappy has stood by pop-up culture since then, most recently opening temporary stores in New York, Miami, and Aspen.

Madhappy

Prices range from $35 for a cap up to $185 for a hoodie.

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Facebook/Madhappy

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"Someone could put in as little as $10k but still make a huge impact with the advice they could give us," he said in an interview with Fashionista in March.

See Also:

SEE ALSO: Bernard Arnault just surpassed Bill Gates as the world's 2nd-richest person. Here are the 6 most recognizable brands he owns.

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