Alexander Wang seduces capital. The company of the American designer has sold a minority stake to the fashion conglomerate Youngor Group and the venture capital firm Challenjers Capital in an operation whose amount has not transpired.
The company, which until now was owned solely by the family, will allocate the capital to strengthen its expansion. Among the company’s plans is to hold a fashion show in Los Angeles next April.
Founded in 2005 by the designer of the same name, Alexander Wang bills annuallyAbout two hundred million dollars. The company’s plans also include doubling its income in the next five years.
Alexander Wang invoices around two hundred million dollars annually
Alexander Wang invoices 50% of his sales in Asia, 30% in the US market and the remaining 20% in Europe. Expansion in Asia will be one of the growth focuses of the company, which also plans to open three new establishments in the United States next year.
Designer Alexander Wang studied at Parson School of Design, and following graduating, in 2005 he launched his namesake firm backed by his family. In 2008 the designer won the Council of Fashion Designers of America (Cfda) award, and in 2012 he signed on as creative director of Balenciaga, a position he held until 2015.
After returning to the helm of his firm, Wang handed over the helm of his company in 2017 to Lisa Gersh, who left the company a year later. Currently, at the head of the company is Aimie Wang, the designer’s sister.
Alexander Wang operates more than forty stores around the worldincluding a flagship store in the London Borough of Mayfair. Through its online store, the company distributes its collections in more than fifty countries.