Adrian Cheng's C Ventures Taps China's Millennial Market
Adrian Cheng is unstoppable. He's an avid art collector and founder of the K11 Art Foundation, he recently co-designed an artisanal furniture collection with the late master architect Shigeru Uchida-san, and his art-meets-sustainability property development in Sai Kung, Mount Pavilia, is the first of its kind.
Now the entrepreneur is taking on China's booming Millienial and Gen Z market with C Ventures, an investment fund with its eye on technology-driven brands and services that cover art, media and fashion.
Currently, Chinese millennials and Gen Z's make up more than one-third of China's population. It's a big market, one brimming with potential, but we don't need to tell Adrian that twice.
What’s particularly interesting is C Ventures’ focus on the high-end rental market. Adrian and his business partner Clive Ng have invested in companies like Armarium, which rents rarefied and coveted runway pieces to its members, as well as Flont, another membership-based rental service that offers high-end jewellery from over 50 brands including Bulgari, Cartier and Tiffany & Co., as part of C Ventures' launch portfolio.
“The way they consume is different. They’re not owning things, they’re renting things. It’s that idea of YOLO — you only live once,” Cheng told Business of Fashion.
Other companies in C Ventures' launch portfolio include independent designer network Not Just a Label, online auction house Paddle8 and luxury athleisure boutique Bandier, amongst others.
Staying true to his penchant for all things unorthodox, Adrian has modelled C Ventures to be more of an “investment club” than a traditional fund.
“C Ventures isn’t simply an investment fund or a venture capital,” says Adrian. “What I’m building is a cultural ecosystem that connects coteries from fashion, media and creative platforms globally, and allowing them to collide, cross-pollinate and grow.”