In a groundbreaking development, Matthew M. Williams, co-founder of the cutting-edge ready-to-wear brand 1017 Alyx 9SM, has forged a strategic partnership with prominent Hong Kong entrepreneur Adrian Cheng. Cheng, a billionaire with an empire of diverse ventures, has acquired a majority stake in the luxury streetwear label, known for its avant-garde designs since its establishment in 2015 by Williams and Luca Benini, the visionary behind Slam Jam street brand distributor.
While specifics of the deal remain undisclosed, it’s crucial to note that Adrian Cheng’s involvement goes beyond a standard distribution agreement. Through his personal investment vehicle, Cheng has secured a majority stake, signaling a commitment to catalyze the growth of 1017 Alyx 9SM. The ambitious plan includes the establishment of monobrand shops over the next two years, with Luca Benini retaining a minority stake in the brand.
In a statement, the label underscores Cheng’s belief in the transformative power of fashion, framing the investment as a strategic move to support designers at the forefront of industry evolution.
Matthew Williams, also at the creative helm of LVMH brand Givenchy since 2020, expresses optimism about the collaboration, hinting at exciting possibilities for the brand’s future. However, specific details of these possibilities are yet to be unveiled.
Adrian Cheng, as CEO of New World Development (NWD), a conglomerate active in real estate, retail, and various sectors, sees 1017 Alyx 9SM as an embodiment of innovation. His diverse business portfolio includes ownership of the Rosewood Hong Kong hotel chain and the K11 group, renowned for its unique approach to integrating retail and culture.
Launched in 2015, initially focused on women and expanding to men in 2017, 1017 Alyx 9SM underwent a transformation in 2018, collaborating with prestigious names like Dior, Nike, and Moncler. Matthew Williams’ meticulous approach to products led him to establish production in Ferrara, Italy, in 2017. Now based in Milan, Williams is contemplating a move to Paris after a successful debut in June 2018.
Positioned in the high-end contemporary segment, blending streetwear and couture, 1017 Alyx 9SM offers a range of products with prices from €200/250 to €1,500 or €1,600. With over 150 retailers globally, the brand’s largest market is in the United States, followed by Europe. The establishment of a shop-in-shop at Harrods in London in 2020 solidified its global retail presence.
Adrian Cheng’s substantial investment marks a pivotal moment for 1017 Alyx 9SM, heralding an era of development and expansion. Stay tuned for updates on this transformative journey in luxury streetwear.
