Proenza Schouler has purchased control of his / her own house by the Castanea Partners, on the latest change of ownership of the avant-garde fashion house in New York. As part of play, the house will also review its senior management team, with the departure of the current CEO and the CFO.
The change in control identifies the fifth significant ownership structure in a decade and a half in the great-fashioned fashion brand in the Midtown Manhattan. Although it has been approved by all fashion editors, Proenza Schouler has been a kind of financial finance.
The dosage of designers set up "Jack McCollough and Lazaro Hernandez, together with a new group of private investors, has re-purchased Proenza Schouler as a whole, and a lot of fresh capital has risen during this process , in order to invest in the strategies for the growth and development of the company, "the house said in a press release.
"We are delighted to start this exciting new episode of Proenza Schouler and we are delighted with the team leaders of the industry we have made and who, with us, helps to direct business I have full potential, "said the duet in the statement
This new capital injection "will allow the brand to expand worldwide by focusing on its core businesses ready to wear, leather goods and PSWL (broadcast line), and will also continue in support of its licensing partners. Loving and Loving Luxury Group ".
Founded in 2002 by the two graduates from Parsons, McCollough and Hernandez Design School, Proenza Schouler is in the name of the names of the mothers of the couple.
Very few new instances have received such recognition. The first CFDA Community Trade Fund Proenza Schouler won the first in 2004 and awarded the CFDA Costume of the Year Design three times in 2007, 2011 and 2013. He has recently been criticized during his recent double term which showed that it was being improved in Paris very favorable.
However, the commercial success of the house has never been compatible with commercial success. They were initially supported by the owner of a chain of coffee shops in Germany, before the Valentino Fashion Group sought a 45% share in 2007. Four years later, a new team of investors, including Andrew Rosen and John Howard, became a partner For Castanea Partners to win a minority share and install Judd Crane as CEO in 2015.
The fashion house added that his CEO, Judd Crane, and CFO, John Paolicelli, will leave their jobs immediately. I'll be displaced by Kay Hong and Jonathan Friedman, while Mary Wang will become the operations director.
Mae Hong is a veteran in the industry that has recently been the Chief Executive Officer of Torrid Inc., while Wang is executive vice president of Alexander Wang, having spent 20 years at Calvin Klein.
Friedman, a consultant in Proenza Schouler for several months, is an ancient CFO, although not well-known in fashion or luxury.
Perhaps, after the opening of a small brand in Chinatown in a poor state of the beginning of the century, the duo will be able to build a great global brand.
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