Proenza Schouler May be LVMH's Next Big Buy

According to our friends over at British Vogue, LVMH Moet Hennessy Louis Vuitton is finally set to buy into New York-based "it" brand, Proenza Schouler, a deal that has been rumored for several years now. The two parties are reportedly in talks about a 40 percent buy in by LVMH, which recently invested in Korean music Management Company, YG Entertainment. The luxury titan, fronted by chairman Bernard Arnault, has also recently acquired stakes in the brands of Nicholas Kirkwood, JW Anderson (who was subsequently appointed as creative director at LVMH-owned brand, Loewe) and Giuseppe Zanotti.

Proenza Schouler, which was launched in 2002 by designers Lazaro Hernandez and Jack McCollough upon graduation from Parsons in New York and the company's president Shirley Cook, landed its first investment early on from Markus Hofels, a German venture capitalist. The designers bought out Hofels' stake in the brand in 2006. A year later, Valentino Fashion Group bought a 45 percent stake in Proenza Schouler for $3.7 million, and in 2011, sold that stake in the brand, which is known for its PS1 bag, for between $10-$20 million, to a group of investors that include Theory founder Andrew Rosen and John Howard. More to come ...