There's been talk for months of Andrew Rosen, founder of Theory and executive of Helmut Lang, buying a 45 percent stake in Proenza Schouler with the help of a group of New York investors. It now appears that the deal is imminent, and could close as early as this Friday; the shares are currently held by European private-equity firm Permira, which also owns Valentino. The remaining 65 percent of the label will reportedly stay in the hands of Proenza Schouler's designers, Jack McCollough and Lazaro Hernandez, who founded the label together in 2002.

The Times's Cathy Horyn speculates that the new investment deal could result in Proenza expanding into new categories, like jeans. "Accessories can also be beefed up with more leather goods, including shoes, and eyewear," she adds. Given the success of Rosen's investments in Helmut Lang and Olivier Theyskens, not to mention how long people have been banging on about how great this Proenza deal should be, the acquisition seems like a win for all parties involved.

A Proenza Schouler Deal Is Near [On the Runway/NYT]