Armoir, the UAE-born luxury luggage brand inspired by the heritage of French wardrobe trunks, today announced the successful close of a $500K seed funding round, led by Salica Oryx Fund with participation from Plus VC and several global angel investors. The round, finalized in summer 2025, builds on early backing from the Chalhoub Group via The Greenhouse, Armoir’s first institutional supporter.
Founded in 2024 by serial entrepreneur Martial Dahan, Armoir was created to fill a critical gap in the premium luggage market: delivering luxury-quality products at more accessible price points. Positioned between traditional luxury houses and modern direct-to-consumer challengers, Armoir appeals to contemporary travelers seeking a balance of timeless style and functional innovation.
“This funding gives us the runway to accelerate design innovation, expand globally, and establish Armoir as a leading brand in premium travel,” said Martial Dahan, Founder & CEO of Armoir.
The newly raised capital will be invested in launching new collections, expanding across MENA and Europe, and scaling the team to strengthen customer experience and drive global growth.
The premium luggage market is projected to reach $75 billion by 2031, with Millennials and Gen Z leading demand as the fastest-growing segment in the luxury sector. With its design-driven approach and globally fluent brand positioning, Armoir is well positioned to capture this momentum.
Ali Qaiser, Partner at Salica Oryx Fund, commented: “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 functional innovation, creating a product that feels both aspirational and practical. At Salica Oryx Fund, we believe in building world-class products from MENA for the world and are excited to support Martial and his team.”
Hasan Haider, Founder & Managing Partner at Plus VC, added: “At +VC, we back visionary founders reimagining traditional industries through technology and design. Armoir is solving the long-standing challenge of cumbersome luggage by offering premium designs inspired by classic travel trunks, blending luxury materials and smart compartmentalization to transform the travel experience.”
Rafi Dikranian, Head of The Startup Studio at The Greenhouse by Chalhoub Group, stated: “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.”
The funding process was supported by Dopamine, which will remain a strategic advisor and long-term partner to guide Armoir’s growth trajectory and market expansion.
