UAE
UAE-based luxury luggage brand Armoir raises $500k seed round to fill a gap in the premium travel market: Armoir, the luxury luggage company inspired by the heritage of French wardrobe trunks, announced the close of a $500K seed funding round led by Salica Oryx Fund, with participation from Plus VC and leading global angel investors. The round, which closed during summer 2025, builds on early support from the Chalhoub Group via the Greenhouse, Armoir’s first backer.
Founded in 2024 by serial entrepreneur Martial Dahan, Armoir addresses a major gap in the premium luggage market: delivering luxury-quality products at more accessible price points. Positioned between direct-to-consumer challengers and traditional luxury houses, Armoir targets an underserved segment of modern travelers who refuse to compromise on style or function.
“Partnering with Salica Oryx Fund, Plus VC, Chalhoub Group, and our angel investors brings world-class expertise in scaling consumer and lifestyle brands globally,” said Martial Dahan, Founder & CEO of Armoir. “This funding gives us the runway to accelerate design innovation, expand globally, and establish Armoir as a leading brand in premium travel.”
The new capital will be deployed to launch additional collections, expand footprint across MENA and Europe, and scale the team to strengthen design innovation, customer experience, and global growth.
Investor confidence in market opportunity
The premium luggage market is projected to reach $75B by 2031, driven by Gen Z and Millennial consumers who represent the fastest-growing luxury segment. Armoir is positioned to capture this demand with a design-driven, globally fluent brand.
Ali Qaiser, Partner at Salica Oryx Fund, said: “Armoir is redefining what premium travel looks like for a new generation of consumers. We were drawn to their ability to blend timeless design with real functional innovation, creating a product that feels both aspirational and practical. In MENA, a new generation of direct-to-consumer brands is emerging with the ability to scale globally and Armoir represents this shift. At the Salica Oryx Fund, we believe in building world-class products from MENA for the world, and are excited to support Martial and his team on this journey.”
Hasan Haider, Founder and Managing Partner at Plus VC, said:“At +VC, we back visionary founders reimagining traditional industries through technology and customer-centric design and Armoir is a right fit. They are solving the long-standing pain point of cumbersome, inefficient luggage with premium designs inspired by classic travel trunks — blending sleek style, luxury materials, and smart compartmentalization to transform the travel experience. We are thrilled to support Martial, and his team as they reimagine luxury luggage for the modern traveler, setting a new standard for modern travel and building a category-defining global brand.”
Rafi Dikranian, Head of The Startup Studio, The Greenhouse by Chalhoub Group, said:
“Armoir hits that rare sweet spot: design-driven, globally fluent, and solving a real gap in the premium travel space. It’s more than luggage; it’s thoughtful design, heritage, and purpose built into every detail. At The Greenhouse by Chalhoub Group, we’re backing that vision with our luxury expertise, brand-building know-how, and deep venture experience.”
The funding process was supported by Dopamine, who will continue as a strategic advisor and long-term partner to Armoir to support the company’s growth trajectory and market expansion.
