Proenza Schouler Closed Its Deal With Andrew Rosen

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