A luxury brands group has launched with the aim of building a platform for premium Irish goods.
Founded by Galway-native Ashley McDonnell, VYKO Group aims to raise €50m to support its first acquisitions by the end of this year.
The group said its strategy includes consolidating high-potential Irish brands across sectors including fashion, beauty, food, and premium consumer goods - with a focus on expansion into key markets such as the US, the Middle East and China.
It said that despite a global luxury market valued at approximately €358 billion, Irish premium brands have historically struggled to scale due to fragmented distribution, limited access to capital, and the absence of a domestic group structure.
But it aims to address this gap directly, creating a platform that enables Irish brands to compete with international luxury groups while retaining their identity and independence.
The company said it has already reviewed over 500 Irish brands, engaged with more than 35, and progressed multiple acquisition opportunities, with initial transactions underway.
By applying a technology-led operating model, VYKO said it aims to deliver accelerated revenue growth across its portfolio while strengthening Ireland's position within the global luxury sector.
Founder and CEO Ashley McDonnell said that VYKO is about building a national platform for Irish brands to scale internationally.
"Ireland has long produced exceptional talent and products, but have long been without the infrastructure to compete globally," she said.
"The launch of VYKO represents a decisive step towards a more structured and scalable premium brand ecosystem in Ireland. It ensures the potential to retain ownership, talent, and long-term value within the Irish economy," she added.
Ashley McDonnell's career spans senior roles with leading global organisations including LVMH in Paris, Google in Dublin, and Puig in Geneva.
Ms McDonnell is also the founder of Ireland Fashion Week, the country's first nationwide fashion week and a leading incubator supporting designers with over €1.4m annually.
She previously served as Chair of Digital Business Ireland, representing more than 8,000 businesses and engaging with key government stakeholders and is also the founder of Tech Powered Luxury, a global media and events platform with over 500,000 podcast downloads.
