Skip Nav
Cannes Film Festival
Cinderella — We Mean Diane Kruger — Walked the Cannes Red Carpet
Spring Fashion
All the Crazy Sh*t Fashion Girls Do With a Belt — and How 1 Can Transform Your Look
Valentino
These Might Be the Sportiest Valentino Dresses You'll Ever See

Proenza Schouler and Valentino Owner Permira Said to Be Shopping Both Labels

>> European private equity firm Permira, which bought minority stakes in Valentino and Proenza Schouler in May and July 2007, respectively, is reportedly looking to sell its interest in the labels.  Permira denied that it is putting out feelers, but WWD reports that sources say otherwise, and several investment funds have looked at both labels.

One "well-placed source" is cited as saying that the situation with Proenza Schouler is "all very agreeable . . . [Permira is] trying to find a way out and working on a possible deal together with [Jack McCollough and Lazaro Hernandez] . . . I believe the problem is that the brand is absorbing too much cash: It’s still a small business that requires a lot of investment to grow.”

Why the deal was originally made »

The source said that it was former Valentino chairman Matteo Marzotto who orchestrated that Proenza Schouler deal: “I believe he meant for McCollough and Hernandez to later become the Valentino designers. Marzotto apparently planned to expand Valentino Fashion Group with more, young and edgy designer labels: “It was a great arrangement — the group managed to secure a jewel brand at a very good price, but, once Marzotto left [two years ago], no effort was made to really grow it. At this point, it no longer makes sense [to keep it]."

Permira is also said to be willing to sell its stake in Valentino, which has struggled since the retirement of its founder in 2008, but wants to retain its interest in Hugo Boss, a significantly larger business.

Around The Web
Join The Conversation
Carine Roitfeld Documentary Mademoiselle C
Jennifer Aniston Valentino Dress at LA Storks Premiere
Valentino Resort Collection 2018
Post
PPR Buys Controlling Stake in Christopher Kane
Valentino Resort 2013
Colby Jordan's Wedding Dress
Valentino Continues Radical Image Change with Fall 2010 Campaign Featuring Nude Models
Post
Post
From Our Partners
Latest Fashion
All the Latest From Ryan Reynolds