A new entrant aiming to reshape Ireland’s position in the global luxury market has launched with the creation of VYKO GROUP, a Dublin and Paris-based investment platform founded by former LVMH, Google and Puig executive Ashley McDonnell.
The company is positioning itself as Ireland’s first structured luxury brands group, with ambitions to consolidate and scale premium Irish labels internationally through a model inspired by Europe’s dominant conglomerates.
VYKO plans to raise €50 million to finance its initial acquisitions by the end of 2026, targeting high-growth brands across fashion, beauty, spirits and premium consumer goods. The strategy reflects a broader shift within the global luxury industry, where scale, distribution control and capital access have become decisive advantages, historically concentrated among a small number of European groups.
While Ireland has produced internationally recognised designers - like Jonathan Anderson, Creative Director at Dior - and premium products like Jameson Whiskey, it has lacked the institutional framework required to build globally competitive luxury houses at scale.
McDonnell said the company is designed to address that structural gap by combining centralised capital with shared operational infrastructure and a technology-led approach to growth. “Ireland has the creative output but not the system that allows brands to scale into global businesses,” she said. “What we are building is an operating model that bridges that divide, connecting Irish brands to international markets while preserving their identity.”
The launch reflects increasing investor interest in culturally distinctive and niche luxury brands, particularly those with strong provenance and storytelling, as global consumers diversify beyond established mega-brands. VYKO’s model draws comparisons with the consolidation strategies that underpinned the rise of groups such as LVMH, although on a significantly earlier-stage and regionally focused basis.
Alexis Delannoy, a private equity investor at Alpera Partners and advisor to VYKO, said the ability of France to structure and scale luxury groups has been a key driver of its economic influence, adding that Ireland has, until now, lacked a comparable mechanism.
He noted: “France’s ability to financially structure luxury groups that employ hundreds of thousands of citizens, manufacture products locally, and export goods globally has been instrumental in dominating the European market capitalization and strengthening the country’s economy. Ireland’s answer to this is VYKO.”
VYKO intends to focus its expansion on the United States, the Middle East and China, markets that continue to drive global luxury demand despite recent volatility. The company has reviewed more than 500 Irish brands and is currently progressing a pipeline of potential acquisitions, with initial transactions underway. Its operating model places emphasis on digital infrastructure, data and e-commerce capabilities, reflecting McDonnell’s background in technology as well as luxury.
McDonnell, who is also the founder of Ireland Fashion Week, has previously worked across Paris, Dublin and Geneva, and has been involved in initiatives aimed at supporting early-stage designers and scaling creative businesses.
The company’s advisory network includes executives with experience across brands such as Chanel and Dior, as well as institutions including Morgan Stanley and the Oxford Saïd Business School.
The launch comes at a time when the global luxury sector, valued at approximately €358 billion, is undergoing structural change, with increasing competition for consumer attention and a growing premium on brand differentiation and cultural relevance. Ireland, which benefits from a strong international reputation and diaspora network, has seen rising global interest in its design, craftsmanship and heritage-led products, but has yet to translate that into scaled luxury businesses.
By building a consolidated platform for Irish brands, VYKO is effectively testing whether the luxury conglomerate model can be replicated in a smaller, culturally distinct market.
The launch comes amid growing global demand for niche, high-quality brands and increasing international appetite for culturally distinctive products. With this in mind, VYKO is positioned to unlock new growth opportunities for Irish businesses.
For more information check out the website VYKO GROUP or instagram