Is LVMH about to buy Proenza Schouler?
The NYC-based designer duo in the eye of the tiger
This week, according to market sources, LVMH Moët Hennessy Louis Vuitton has been holding talks about acquiring a stake in the New York-based fashion house, Proenza Schouler.
It seems that the new deal could involve the 40 percent stake of the young designer label that Andrew Rosen, John Howard and other investors jointly acquired in 2011.
However, it is still not clear whether the founding designers, Jack McCollough and Lazaro Hernandez, will be willing to give up their majority control in order to partner with LVMH - with still no comments from both sides on the possible acquisition.
In the past few years Proenza Schouler has certainly left a mark on the fashion world and been on LVMH's radar for a while. Proenza Schouler already has its own corner in Le Bon Marché, the Left Bank department store. And earlier this year, the retailer hosted a vast, ground-floor retrospective exhibit of 80 favorite looks of Proenza Schouler's founding duo.
Delphine Arnault, the daughter of LVMH chairman and chief executive officer Bernard Arnault, and executive vice president at Louis Vuitton, even said she loves what they do, and that LVMH has been following their work for some time now.