LVMH may acquire a stake in Proenza Schouler
today Aug 26, 2014
The appetite of luxury groups is truly insatiable. According to market sources, LVMH has taken an interest in the New York fashion brand Proenza Schouler, led by the duo Lazaro Hernandez and Jack McCollough.
The world's leading luxury group is said to be in talks focused on purchasing a 40% stake.
Proenza Schouler is majority owned by its two founding designers. The brand already had the luxury company Valentino Fashion Group as a 45% minority shareholder. The group sold its shares in 2011 to several investors including Andrew Rosen, CEO of Theory and then Helmut Lang, and now the head of the Fast Retailing-owned J Brand.
LVMH is clearly very familiar with the American brand. Even more so since it honored the brand with its own exhibition at the Bon Marché Rive Gauche, which is owned by French luxury group, from February 22 to March 22.
LVMH recently acquired a 52% stake in the British shoemaker Nicholas Kirkwood. It also holds a 46% stake in the house of the designer JW Anderson, who now serves as the creative director of its brand Loewe. Last February, the French group took up a 45% stake in the Italian brand Marco De Vincenzo.
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