Written by
Jules Chasles
Co-founder and COO
Read time
4 min read
Published on
March 2, 2026
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Why We Backed Armoir: Functionality Meets Craftsmanship

Key Takeways

  • Armoir is a French-heritage cabin luggage brand targeting the gap between traditional luxury pricing and mass direct-to-consumer quality
  • Founder Martial Dahan combines serial entrepreneurship with an obsessive approach to materials and construction
  • The premium luggage market is projected to reach $75 billion by 2031, driven by Gen Z and Millennial consumers treating luggage as a fashion accessory
  • Dopamine backed the round alongside strategic investors with expertise in consumer brands and global distribution
  • Funding supports expansion across MENA and Europe while strengthening design innovation

Some founders talk about quality. Martial builds it. When we first opened an Armoir cabin bag, we knew we had found something different in a crowded luggage market.

A mutual introduction brought us to Martial Dahan. These introductions often surface the best opportunities precisely because someone understands both sides of what could work well together.

The Market Gap

The luggage industry has a clear divide. On one side, traditional luxury houses charge premium prices for heritage brands. On the other, direct-to-consumer challengers compete on price and convenience.

The premium luggage market is projected to reach $75 billion by 2031. Most of that growth comes from Gen Z and Millennial consumers who view luggage as more than utility — it reflects personal identity. This segment sits between the two extremes. They want luxury-quality products but find traditional luxury pricing unreasonable. They value craftsmanship but need functional design for real travel.

Why Martial Stood Out

Martial draws on French heritage and craftsmanship traditions to create products that match luxury fashion house quality, priced accessibly and sold directly to consumers. That combination requires obsessive attention to detail at every stage.

The 70/30 trunk partition system keeps clothes organised even when bags are handled roughly. Included dividers hold everything in place when luggage is inverted. Every component is pressure-tested beyond standard requirements. Martial understands that modern travellers need both style and function, and his background as a serial entrepreneur shows in how he balances heritage inspiration with contemporary needs.

The Investment Thesis

We wanted to assemble strategic investors who understand both luxury goods and direct-to-consumer scaling. The round included partners bringing expertise in consumer brands, global distribution, and the patience required to build something meant to last.

The funding allows Armoir to expand methodically across MENA and Europe while strengthening design innovation and customer experience. The vision extends beyond cabin luggage to additional collections maintaining the same commitment to French heritage, accessible luxury, and functional design.

At Dopamine, we look for founders who combine vision with execution. Martial exemplifies that combination. His understanding of where the market is going — and his ability to build products that meet that demand — is what made this an easy decision.

Visit armoir.co to see the products for yourself.

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