LVMH Luxury Ventures, the investment arm of LVMH, has acquired a minority stake in the French knitwear brand Molli. Trade publication WWD first reported the news. The financial details of the investment have not been disclosed.

Molli was founded in 1886 in Switzerland as a knitting factory. In 2014, chief executive officer Charlotte de Fayet revitalised the brand with a focus on high-quality womenswear and accessories, produced in France and Italy. The brand now has four shops in Paris and a global presence through e-commerce. Molli is also available at more than 100 retailers worldwide, including in the Netherlands and Japan. Last year, Molli achieved a turnover of more than eight million euros.

LVMH’s investment will be used for further international expansion, including new shops in European capital cities. The brand also wants to strengthen its omnichannel strategy and expand its management team. According to Julie Bercovy, managing director of LVMH Luxury Ventures Advisors, Molli is "ideally positioned to become a lasting reference in the luxury sector," reports WWD.