Luxury streetwear label 1017 Alyx 9SM, co-founded by Matthew M. Williams, who is also the creative director of Givenchy, has confirmed that it has secured investment from Hong Kong-based entrepreneur Adrian Cheng.
In a statement, Williams said that his label was entering into a “strategic business partnership” with Cheng, who serves as chief executive of the Hong Kong-based property development group New World Development Company.
The terms of the deal were not disclosed, with Williams adding that the deal underscores Cheng’s dedication to “supporting cutting-edge designers who redefine the boundaries of fashion,” while allowing 1017 Alyx 9SM to continue growing with new channels and products to challenge “the status quo, creative, technological, and cultural convention”.
Cheng said: "I am thrilled to embark on this journey of nurturing talent and contributing to the evolution of the fashion industry. 1017 Alyx 9SM, under the creative direction of Matthew Williams, embodies the spirit of innovation that I am passionate about supporting."
Williams added: "Collaborating with Adrian Cheng opens up exciting possibilities for the future of our brand. We share a common vision for pushing boundaries and creating meaningful impact in the industry.”
Chicago-born self-taught designer Williams was raised in California and co-founded 1017 ALYX 9SM in 2015 with American designer Luca Benini, the founder of Italian-based street brand distributor Slam Jam. The label launched as a womenswear label before adding menswear and now offers ready-to-wear, accessories and shoe collections, as well as collaborations with the likes of Nike, Dior, Moncler, and Mackintosh.