Alexander Wang in Interest Repurchase and Minority Investment

September 5, 2022

Cleary Gottlieb represented the Alexander Wang companies (AW Companies) in an equity investment by Challenjers Cepheus LLC (Challenjers) and Starry Fashion Limited (previously known as Shanghai Youngor Starry Brand Management Co. Ltd.; Youngor).

The transaction was announced on September 5, 2022. The proceeds of the new equity investment were used in part to repurchase shares from certain existing shareholders.

Alexander Wang is an American fashion designer brand founded in 2005. The companies specialize in ready-to-wear, fashion accessories, bags, shoes, and more for women and men. The designer, Alexander Wang, rose to prominence in the fashion world following an award from the CFDA/Vogue Fashion Fund in 2008. He was then creative director at Balenciaga from November 2012 to July 2015 before returning to run his eponymous brand full-time.

Challenjers is a China-based venture capital firm founded in 2014 that focuses its investments in the SaaS and consumer sectors. Youngor is a China-based international conglomerate in the textile and apparel industry founded in 1979. Youngor’s investment arm focuses on apparel and consumer industries, with the intent to complement their existing apparel business.