Does Hong Kong entrepreneur Adrian Cheng have his eye on Matthew M. Williams and his 1017 Alyx 9SM label?
According to sources, Cheng has held discussions about investing in the Milan-based fashion concern.
The likelihood of a deal could not immediately be learned.
Reached via an intermediary last week, Williams declined all comment.
While Williams is most often in the media spotlight as creative director of Givenchy in Paris, he also dotes on 1017 Alyx 9SM, which he now shows in Milan during men’s fashion week.
Established in 2015, the coed label propelled the American designer to become a key ringleader of the burgeoning luxury streetwear scene.
The brand 1017 Alyx 9SM is known for its an industrial-tinged, utilitarian allure; buzzy collaborations with the likes of Nike, Moncler and Audemars Piguet, and its signature roller-coaster buckle, which appears on apparel, bags and shoes.
A look from the 1017 Alyx 9SM runway for spring 2024.
Valerio Mezzanotti
“It’s a life project, and it’s so personal. It’s named after my daughter,” Williams told WWD in a 2021 interview.
The numbers in the brand moniker reference the designer’s birth date and an abbreviation of the brand’s first studio on Saint Mark’s Place in New York City.
Cheng is the third-generation scion of one of the biggest business dynasties in Asia — spanning from property development and department stores to blockchain start-ups.
Primarily known for his ambitious retail projects as chief executive officer of New World Development and founder of K11 Group, Cheng is also a fashion enthusiast who sits front row at Paris Fashion Week and is among Chanel’s rare male couture clients.
He makes investments via various vehicles, including C Capital, a hedge fund he cofounded in 2017. Since then C Capital has invested in more than 60 “disruptive businesses in the consumer, technology and blockchain sectors globally,” according to its website.
Its portfolio includes Casetify, Bandier, Beautycon, Shein, Moda Operandi, Dazed Media, Not Just a Label and Tagwalk.
New World Development is a vast enterprise with tentacles that stretch into education, health care, insurance, aircraft-leasing and crypto. But its three main businesses are property development, hospitality and retail, including 27 New World department stores, the giant Chow Tai Fook chain for jewelry and watches, plus luxury distributor Luxba Group.
