Has Proenza Schouler Attracted A Suitor?

  • PROENZA SCHOULER is said to have attracted a new suitor: private equity firm Castanea Partners. The investment firm joins French conglomerate LVMH as one of the companies said to be eyeing the New York label - although it seems that this deal is no more certain than previous rumours, with WWD reporting that Castanea has thus far declined to comment.

    Typically investing between $15 million and $75 million, Castanea controls an eclectic range of companies - from home furnishings to personal accessories - but does not currently boast a designer fashion brand. LVMH on the other hand - which controls some of fashion's biggest labels from Louis Vuitton to Dior and Céline, and recently acquired several emerging labels, including JW Anderson and Nicholas Kirkwood - has a wealth of experience in the luxury sector, and could potentially help the designers reach the "billion-dollar brand" status that they have previously outlined as their ultimate goal.

    The time is right for investors keen to snap up a print label it seems, with several brands that possess a similar aesthetic welcoming new partners within recent months. British brands Peter Pilotto and Jonathan Saunders - which, like Proenza, began life with a focus on print but have latterly transitioned to focus more on texture and embellishment - have both received investment recently, while Mary Katranzou claimed the BFC/Vogue Fashion Fund prize in March in order to take her business to the next level. Permira has also declared its interest in acquiring another fashion label with its sights set on growth, since offloading Valentino and Hugo Boss, which would leave the Proenza boys spoilt for choice if it also throws its hat in the ring.

     

    Has Proenza Schouler Attracted A Suitor?

     

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