Could Theory be ready to take on Proenza Schouler ?
According to several sources, Theory's co-founder and president Andrew Rosen is looking to buy the Proenza Schouler brand from the European private equity fund Permira. Rumors floated around earlier this March but they were quickly squashed. The rumors of a deal resurfaced again this week and sources both say that Rosen and the Proenza Schouler designers are "up to something".
Permira, which also owns Valentino, has been looking at cashing in its investment in Proenza Schouler and several investment funds are said to have looked at the label. Valentino Fashion Group took a 45 percent stake in Proenza Schouler in 2007. Designers Jack McCollough and Lazaro Hernandez own the remaining 55 percent with Shirley Cook, their firm’s chief executive officer.
Source; Photos: WWD
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