FASHION Magazine

Speculation surrounding a change in Proenza Schouler’s investors has been circulating for quite some time now. That change seems to have been confirmed yesterday by Cathy Horyn of The New York Times. According to the writer, the label’s current backer, the private equity firm Permira (also the primary owner of Valentino), will be selling its shares in the label as early as Friday.

The 45-per-cent stake will reportedly be transferred over to a group of New York investors including Andrew Rosen, CEO of Theory and Helmut Lang. Designers and founders Jack McCollough and Lazaro Hernandez will likely hold onto their control over the other 55 per cent of the company.

While we’re excited to see what Rosen’s plans are for the brand, we’re hoping that too much doesn’t change. New investors can often demand a lot of designers, but that won’t necessarily be the case with Proenza Schouler. McCollough and Hernadez’s It-girl aesthetic seems in keeping with Rosen’s previous ventures (think Olivier Theyskens at Theory). What we are hoping for is the production of more accessories, which seems inevitable with the success of the PS1 bag.