Proenza Schouler Closed Its Deal With Andrew Rosen

NEW YORK, NY - JUNE 06:  Womenswear Designer of the Year Award honorees Jack McCollough (L) and Lazaro Hernandez (R) pose backstage at the 2011 CFDA Fashion Awards at Alice Tully Hall, Lincoln Center on June 6, 2011 in New York City.  (Photo by Andrew H. Walker/Getty Images)
Proenza Schouler's Jack McCullough and Lazaro Hernandez. Photo: Andrew H. Walker/2011 Getty Images

As expected, a group of investors led by Theory founder Andrew Rosen and his business associate John Howard purchased a large stake in Proenza Schouler from Valentino Fashion Group today. A statement from Proenza Schouler said that the new investment would allow the brand “to enter a new phase of development.” [Fashionologie]

Earlier: Theory’s Andrew Rosen Poised to Buy a Big Chunk of Proenza Schouler as Soon as Friday