Martial Dahan, Founder of Armoir- The seed funding round for Armoir was led by Salica Oryx Fund, with participation from Plus VC, Chalhoub Group’s Greenhouse, and angel investors.
- Armoir will use the new funding to launch fresh collections, expand across MENA & Europe, and scale its team for design, Customer Experience, and global growth.
- Founded in 2024 by Martial Dahan, Armoir targets the premium luggage gap by offering luxury-quality design and function at more accessible prices.
- The premium luggage market is set to hit $75 billion by 2031, and Armoir’s fundraise signals MENA’s luxury startups eyeing global growth.
Armoir, a luxury luggage brand inspired by the heritage of French wardrobe trunks, has closed a $500,000 seed funding round led by Salica Oryx Fund, with participation from Plus VC and a number of global angel investors. The funding round, finalized in summer 2025, builds upon early support from the Chalhoub Group’s Greenhouse, which was Armoir’s first backer.
Founded in 2024 by serial entrepreneur Martial Dahan, Armoir aims to address a gap in the premium luggage segment by delivering luxury-quality design and functionality, but at more accessible price points. The brand positions itself between direct-to-consumer disruptors and traditional luxury houses, targeting modern travellers who demand style without sacrificing durability or utility.
“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.”
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Armoir will deploy the fresh proceeds towards launching additional collections, expanding footprint across MENA and Europe, and scaling its team to strengthen design innovation, customer experience, and global growth.
Speaking of their interest and investment in Armoir, 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.”
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Hasan Haider, Founder and Managing Partner at Plus VC, accentuated, “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, shared, “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.”
Premium Luggage Market Opportunity for Armoir
According to Verified Market Research, the premium luggage market was valued at $44.05 (USD) billion in 2023 and is projected to reach about $75.13 billion by 2031, growing at a CAGR of approximately 6.90% from 2024 to 2031.
These numbers validate Armoir’s hypothesis: that a sizeable opportunity exists for brands offering high design and quality, but perhaps without ultra-premium price tags or overly exclusive brand heritage. The company seems to be striking a sweet spot for travellers who want luxury-level design and utility but are perhaps priced out of traditional luxury names. Also, by operating from the UAE and focusing early on MENA and Europe, it can leverage regional growth and growing consumer spending in travel, lifestyle, and premium goods. If Armoir can deliver on quality and build trust, it has a real chance to carve out this in-between niche.
Armoir’s seed raise is more than just a funding headline—it highlights a maturing luxury lifestyle ecosystem in the MENA region, where founders are targeting global audiences with premium offerings, not just local or niche. The projected market growth backs that strategy, and investors seem aligned with what modern premium travellers want: curated design, durability, aesthetic, and accessible luxury.
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