LVMH Luxury Ventures will invest up to $5.4m a time in luxury fashion, cosmetics and accessories startups.
France-based luxury goods producer LVMH has established a corporate venturing fund called LVMH Luxury Ventures that will invest in early-stage luxury consumer startups, Reuters reported on Friday.
The firm has provided LVMH Luxury Ventures with €50m ($54m) of capital, and it will be led by Julie Bercovy, LVMH’s deputy head of mergers and acquisitions.
The fund will back high-end fashion, cosmetics and accessories startups with an annual turnover between €2m and €5m, investing €2m and €10m in each one.
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