It has been a minority investor in the firm since 2017 and the latest deal comes as ACW said in a statement that it “enters its next phase with sharp intentions and principles”.

The statement continued: “Since founding A-Cold-Wall in 2015, Ross has steered ACW from a raw concept to a globally established brand, consisting of flagship stores, design studios in London and Milan, experimental collections, and iconic collaborations.

“Now approaching its nine-year milestone A-Cold-Wall’s core team of long-standing directors will continue to advance the brand language with Ross’ full alignment, prioritising innovation and material development.”

No financial details have been released about the deal but Tomorrow’s co-founder and CEO Stefano Martinetto has reportedly said that the brand’s gross merchandise value last year was £16 million.

Tomorrow is known for its backing of some of the most interesting emerging designer brands including Martine Rose, Charles Jeffrey Loverboy, Coperni and Lucinda Chambers’ Colville label, among many others. It has also backed luxury boutique Machine-A as Tomorrow evolved from its origins as a showroom into a multinational business.