Danish menswear brand Les Deux is continuing its remarkable growth trajectory, announcing strategic expansion plans across both Europe and the United States.
Based in Copenhagen and privately held, Les Deux unveiled its financial results for 2024 in early April, showcasing a jump in gross profit to 13.9 million euros, up from 13 million the previous year. EBITDA (earnings before interest, taxes, depreciation, and amortization) also saw an increase, rising from 8 million to 8.26 million euros.
This financial boost reflects a year of vigorous expansion. Over the last 12 months, Les Deux opened 25 new shop-in-shops in key global retail locations, including Galeries Lafayette in France and De Bijenkorf in the Netherlands. In the U.S., it entered Nordstrom, expanding its American presence which already included Bloomingdale’s.
Now ranked as the brand’s sixth-largest market, the U.S. continues to show strong potential. This momentum is largely driven by a successful joint venture with Blackwatch Agency, co-founded by Marc Gammiero and Marc Psarolis, who have worked closely with independent retailers to develop the brand’s foothold in the States.
“The whole personal relationship with the shops that we have succeeded with in Europe, we want to do in the U.S.,” said co-founder Andreas von der Heide.
Despite the digital shift in sales post-pandemic, von der Heide insists that fashion remains a “people” business. That human connection led to one of the brand’s most talked-about projects — a collaboration with Yale University.
As part of its Legacy Program, which supports community initiatives, Les Deux refurbished a basketball court in New York to mark its expansion. It was there that von der Heide met Michael Feinberg, a former Yale basketball captain. That chance encounter led to a partnership that aligned perfectly with the brand’s Ivy League-inspired style.
The collaboration has produced logoed hoodies, half-zip fleeces, varsity jackets, basketball jerseys, and preppy knitwear. The first capsule dropped in 2023, followed by a second collection in March 2024.
Though rooted in prep and streetwear influences, Les Deux has also found unexpected success with more fashion-forward pieces. A standout bestseller? A short-sleeved lace button-down. Its popularity highlights growing consumer demand for bold menswear styles — one of the few segments still thriving in department stores despite a broader slowdown in luxury sales.
“At some point we will look toward more formalwear,” von der Heide added.
The brand’s production spans 37 suppliers across Europe and China. However, ongoing discussions in the U.S. about import regulations have prompted the company to evaluate new strategies. For now, von der Heide remains optimistic.
“We’ve already survived COVID-19, the war in Ukraine, and rising interest rates,” he said. “We will sit down with our partners. We don’t have all the info yet, but there will be a need for cooperation from both U.S. and international sides.”
While the U.S. is a key growth area, concerns over tariffs are also nudging the company to strengthen its European footprint. Les Deux is now investing in markets like Germany, France, and the U.K.
To reinforce this strategy, it opened new sales offices in Paris and Düsseldorf and brought its U.K. sales operations in-house, following the 2023 launch of a Munich office. According to von der Heide, this move has delivered noticeable improvements.
“It just makes sense now that we’ve reached a certain turnover,” he said. “Having our own people in place allows us to be more engaged with the market and the customers. That approach really works.”
Currently, Les Deux operates four standalone stores — three in Denmark and one in Oslo. Plans are underway to open a flagship store in Paris by Q4 2025.
The brand will also continue its shop-in-shop expansion strategy in department stores worldwide.
“Every time we build a shop-in-shop environment, we see high foot traffic and strong turnover,” von der Heide said. “We will focus on enhancing that experience.”
While the Yale collection is designed as unisex, the brand has no immediate plans to launch a women’s line.
“Given the current market, we are laser-focused on what we do best — menswear,” von der Heide stated. “With our basketball-driven positioning, we’ve become very clear on our strengths.”
In summary, Les Deux is merging fashion-forward design with classic preppy aesthetics, supported by meaningful collaborations and a hands-on retail strategy. With a clear identity and global momentum, the brand is poised for even greater success in both established and emerging markets.
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