PARIS — Expanding its investments beyond its home country, Belgian fashion fund CLCC SA said it has taken a minority stake in London-based fashion designer Yang Li.
This story first appeared in the April 9, 2015 issue of WWD. Subscribe Today.
The size of the stake and financial terms were not disclosed.
Beijing-born Li, who has presented his signature women’s and men’s collections in Paris since 2011, said the investment would ensure “financial stability,” allow him to steadily expand his team and forge stronger relations with new and existing clients and suppliers.
Li’s collections are carried in specialty stores including Dover Street Market, Selfridges, L’Eclaireur, Joyce, Maxfield and Barneys New York. A men’s wear graduate from Central Saint Martins who did a stint at Raf Simons, Li is known for his minimalist, industrial-tinged garments tailored in leather and double-face fabrics.
CLCC is an upstart fund backed by shipping magnate Pierre Cigrang and his family. It also holds investments in Brussels-based jewelry brand Kim Mee Hye, Belgian fashion brands A.F. Vandevorst and Christian Wijnants, as well as the designer shoe label WeberHodelFeder and the online luxury retailer Crest & Co.
CLCC director Antony Verbaeys asserted that Li’s “understated luxury” and tailoring savoir-faire “perfectly reflect the wishes of present-day fashion consumers.”
The Cigrang family has been in the sea freight business since 1928. Brothers Pierre and Christian Cigrang got their first taste of fashion in the Nineties when they invested in Raf Simons’ namesake label.