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Nokia собирается продать Vertu

По сообщению источника, ссылающегося на публикацию в издании Financial Times, компания Nokia ведет переговоры о продаже своего дочернего предприятия Vertu. В роли покупателя выступает … Читать далее…

A Proenza Schouler Deal Is Near


A European private-equity firm is expected to sell its shares in the design house Proenza Schouler to a group of New York investors led by John Howard, the chief executive of Irving Place Capital, and Andrew Rosen, a seasoned garment industry executive behind Theory and Helmut Lang.

The transaction is expected to be completed as early as Friday, according to an individual close to the negotiations who spoke on the condition of anonymity because the talks were not yet complete. 

Proenza Schouler, founded in 2002 by Jack McCollough and Lazaro Hernandez while they were design students at Parsons, received an investment stake four years ago from the private-equity firm Permira, giving it 45 percent ownership in the New York-based luxury label. The rest is held by Mr. Hernandez, 33, and Mr. McCollough, 32, as well as Proenza’s chief executive officer, Shirley Cook.

Permira is a principal owner of Valentino.

Negotiations with Permira to sell its stake to the New York group have been going on since late last year. Mr. Howard and Mr. Rosen declined this week to comment on the transaction.

Given the expertise and resources of Mr. Rosen and Mr. Howard, the impact of the partnership on Proenza Schouler’s future is apt to be considerable. Although the designers have presented a more coherent vision in recent years and in 2009 introduced a successful handbag style (the P.S. 1) that expanded their reach into the lucrative accessories market, there are still a number of product categories that could be developed, like jeans. Accessories can also be beefed up with more leather goods, including shoes, and eyewear.

Mr. Rosen is the founder of Theory, a contemporary label sold in stores like Bloomingdale’s and Bergdorf Goodman. He also runs Helmut Lang. Last fall, he surprised many in the industry by appointing Olivier Theyskens, formerly with the Paris houses Rochas and Nina Ricci, as the artistic director of Theory. Mr. Rosen may be keen to help develop the creative ideas of Mr. McCollough and Mr. Hernandez.

Mr. Howard offers a separate set of skills. Though he prefers to remain behind the scenes, despite having a gregarious personality, he is known as a hands-on dealmaker with a solid grasp of product design and production. His firm’s Web site lists $2.7 billion in funds and a broad range of investments that include the shoemaker Stuart Weitzman and Dots, a retail chain based in Ohio. He was an early, and successful, investor in the labels Aéropostale and Seven for All Mankind.

Proenza has done much to establish its image as a cool luxury label. The new partnership seems to allow the brand the chance not merely to grow but also to grow with the right combination of talent, something increasingly hard to find in the industry.