According to a report, Hong Kong-based entrepreneur Adrian Cheng has secured a majority stake in Matthew M Williams‘ label 1017 ALYX 9SM. While terms of the deal have not been disclosed, Cheng, Chief Executive Officer of Hong Kong-based property development group New World Development Company, acquired the stake in ALYX through C Capital, the investment fund he founded in 2017 that currently holds investment in 60 companies across fashion, tech, and media sectors.
Well before serving as Creative Director of LVMH-owned Givenchy, Matthew M Williams founded 1017 ALYX 9SM with Slam Jam’s Luca Benini in 2015. The label initially focused on womenswear and built on its early attention with a 2016 LVMH Prize finalist selection. With co-signs from celebrated figures in fashion, 1017 ALYX 9SM developed a luxury fashion outlook of street culture and streetwear that Williams, Virgil Abloh, and Heron Preston delivered with Been Trill.
In case you missed it, PLEASURES references ’90s streetwear of NYC with Triple 5 Soul collaboration.
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