London-based mergers and acquisitions company Permira has sold its stake in Proenza Schouler to a team of investors led by Theory chief executive officer Andrew Rosen and his business partner John Howard.
Permira bought Valentino Fashion Group, including its 45% share of Proenza Schouler, in 2007. Rumors have swirled for the last year that Permira was looking to offload its share in the accessories company, and it seems to have found the right buyer in Rosen.
Rosen has personally invested in Proenza Schouler, rather than doing so through Link Theory Holdings, which Theory falls under. The acquisition’s bulked up his already considerable fashion portfolio, which also includes investments in Rag & Bone, Alice + Olivia, and Gryphon.
Rosen and Howard told Women’s Wear Daily that they believe Proenza Schouler represents “the future of American luxury,” a label that can mix it with the dominant European fashion houses on the global stage. They believe that their resources and experience will help Proenza Schouler achieve that potential.
Andrew Rosen and John Howard have such a major stake in Proenza Schouler, it’s bound to affect this exciting fashion house in a major way. Are you optimistic about the investment duo’s involvement in the brand?
