The two investments are the first outside investment for Alexander Wang, and mark an important step for the brand following a tough couple of years.
The investors are Youngor Group and Challenjers Capital. Youngor Group was founded 43 years ago as a men’s tailoring brand, is based in Jingbo, Zhejiang Province and ranks among the ten biggest listed Chinese fashion companies by revenue in 2021. Meanwhile, Challenjers Capital was founded eight years ago and has two currency funds, with a cumulative asset management scale of more than CNY 10 billion.
“When the brand was first established in 2005, I had no idea that it would grow to the scale it has today. Now that the brand’s North American and global retail expansion plans have been launched, I am very excited about the future of the brand and the support from Youngor Group and Challenjers,” Wang emphasised in the statement.
