Former LVMH executive launches Ireland’s first luxury group

Ashley McDonnell, an Irish-American executive with experience across LVMH, Google and Puig, has launched Ireland’s first luxury conglomerate, VYKO Group, designed to acquire and scale emerging luxury brands.

In a statement, McDonnell, who has more than a decade of global leadership within the luxury and technology sectors, with senior roles at LVMH (Paris), Google (Dublin), and Puig (Geneva and Paris), as well as founding Ireland Fashion Week, is looking to spearhead a new era for Irish luxury, by scaling brands by driving digital, media, and e-commerce strategies for global success.

VYKO Group is looking to raise 50 million euros this year to support its first acquisitions by the end of this year. The group said it is aiming to “address a longstanding gap in the market” by acquiring minority to full stakes, from 35 to 100 percent, in brands across fashion, beauty, spirits, jewellery and fine food, combining investment with a centralised operating model.

“We aren’t just launching a company; we are building an ecosystem,” said McDonnell. “The opportunity is to prove that brands can be built and scaled internationally from Ireland, rather than having to leave to succeed.”

VYKO will mirror the approach of legacy conglomerates, such as LVMH and Kering, including digital commerce, marketing, international communications, retail development and supply chain management, but with a “more technology-led and flexible structure”.

McDonnell states that the timing of the launch reflects a broader shift in how luxury brands are built, as well as a new generation of labels emerging with digital-first distribution, sustainability embedded in production, and community-driven growth strategies, areas where traditional groups have often had to retrofit capabilities.

The founder and chief executive also adds that Ireland is “increasingly well-positioned to participate in this shift” due to how the country’s cultural influence has expanded internationally in recent years, with actors including Paul Mescal, Saoirse Ronan, and Jessie Buckley gaining international success, while designers such as Jonathan Anderson, Seán McGirr and Simone Rocha are representing Ireland on the contemporary fashion landscape.

“Despite this visibility, much of Ireland’s fashion success has been built abroad. VYKO’s strategy is to create the conditions for brands to scale from within Ireland, retaining more of the economic value domestically,” added the company.

VYKO Group looks to build a culture-first, digital-forward conglomerate for Irish luxury brands

A key focal point of its strategy is investment in heritage craftsmanship, with the group planning to back brands working with traditional Irish materials and techniques, such as Donegal tweed, Aran knitwear, metalwork and distillation, while supporting local manufacturing capacity.

The goal is "to align heritage production with global luxury demand, at a time when consumers are placing greater emphasis on provenance and authenticity”.

“While the dominance of Paris- and Milan-based conglomerates remains firmly intact, VYKO is an early attempt to test a decentralised model, one rooted in cultural identity, but built with global scale in mind,” added the luxury group.

McDonnell, who founded Ireland Fashion Week in 2025, will also use the platform as a broader talent pipeline. The debut iteration of the fashion week supported more than 50 designers, and it is set to expand to over 90 participants, with backing from partners including Visa and L’Oréal.

With its desire to build the future of the Irish luxury ecosystem, VYKO Group is being backed by an advisory board featuring Jonathan Siboni, founder and chief executive of Luxurynsight; Thuy-Anh J Nguyen, president of ECG Consulting; Alexis Delannoy, Private Equity, Alpera Partners; Sophie Djordjevic, senior marketing manager at JD.com; Elizabet Aleksieva, business development director at Puig and founder of Beauty Talks; and Patti Brown, associate dean of accredited programmes at University of Oxford Said Business School.

Commenting on the launch, Jonathan Siboni, founder and chief executive of Luxurynsight, said: "Ireland has the talent, the stories, and energy to rival any country in the world. Technology is the present and future of any brand with global ambitions; it is something inherent to the business ecosystem in Ireland, as well as to VYKO’s founder."

Thuy-Anh J Nguyen, president of ECG Consulting, added: "Ireland’s cultural relevance on the global stage has never been stronger. Through the power of a group, as well as the platform of Ireland Fashion Week, VYKO will allow creatives and creatively-led brands to move at the speed of culture."