Alexa Chung’s eponymous fashion brand has received investment
ALEXACHUNG marks the model's first foray into the start-up world - with the brand having received backing from Pembroke VCT
Alexa Chung’s fashion brand ALEXACHUNG has received investment from Pembroke VCT – the investment house which focuses on early stage consumer start-ups with high growth potential.
Representing the model, writer and fashion designer’s first foray into the start-up world, her eponymous business specialises in shoes, denim, coats and jewellery.
Established in 2016, the London-based start-up intends to “create clothes that people” want to wear and combines Parisian chic with a “New York edge and British sense of humour”.
The brand aims to produce four season collections every year internationally, and retails these via 15 stockists – according to its website.
On the back of the investment – the amount of which was undisclosed – Chung has appointed Edwin Bodson as her managing director, who previously served as head of Atelier Haider Ackermann.
Speaking at the launch of her eponymous fashion brand, Chung commented:
“I had been creeping towards this goal of starting my own business for years and finally it just felt like the right time to take the plunge.
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“The experience I have enjoyed in art directing, modelling, and designing for other brands bolstered my confidence and experience across some of the many areas it takes to form a fully-fledged brand. Ultimately, I just really like making clothes and dreaming up new outfits and although it’s a risk I was too curious not to try to do this – to make my dream a reality.”
Andrew Wolfson, managing director of Pembroke VCT, commented:
“We’re immensely proud to be working with Alexa and Edwin on the launch of what will undoubtedly be a hugely successful venture. Before investing in any young business, we look for several key traits such as passion, commitment and drive, all of which Alexa embodies.
“Pembroke VCT is run by serial entrepreneurs who understand the components required to make a successful business. As a result, many of the smaller companies we have invested in at an early stage might well be names that you know today.
“The UK is a nation of small businesses and there is a large pool of them that have promise and proven capability that just need access to capital. This is what VCTs can and should provide, by offering investors the tax incentive to invest in that growth. The added benefit to investors is that they are funding the UK’s entrepreneurial spirit and helping to create jobs.”