Louis Vuitton Moet Hennessy (LVMH) has added another label to its investment portfolio, Los Angeles based streetwear label Madhappy.
The two-year-old label, founded by four twentysomething friends in Los Angeles, received the largest investment contribution of its $1.5 million seed round from LVMH Luxury Ventures subsidiary which also backed designer label Gabriela Hearst and sneaker/streetwear firm Stadium Goods, the latter of which was recently acquired by Farfetch. Other seed round investors also included Tommy Hilfiger and the founders of Sweetgreen.

Th move by LVMH has indicated the luxury labels openness to investing in a brand that is less inclusive than traditional luxury labels and also more focused on positive emotional narrative.
Cofounder Peiman Raf says that the brand is on a mission to make the world a more optimistic place by creating conversations around mental health.
“Growing up, we found that many streetwear labels seemed to be very exclusive, and we wanted to create a brand that was the opposite of that,” he says. “But we want to take it a step further and start conversations about mental health. Many of our events are focused on talking about mental health issues that most people don’t often talk about publicly.”

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