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Proenza Schouler Closed Its Deal With Andrew Rosen

By , the Cut’s financial-advice columnist.  In addition to “My Two Cents,” she writes about work and parenting for the site. Previously, she was the senior features editor at Harper's Bazaar and a senior editor at the Cut. She was also the editorial director for MM.LaFleur. Her work has also been published in Glamour, Art in America, Politico, and other places.
Proenza Schouler's Jack McCullough and Lazaro Hernandez.
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

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Proenza Schouler Closed Its Deal With Andrew Rosen