Proenza Schouler makes fragrance deal with L’Oreal

Today, Proenza Schouler announced that it has signed an agreement with L’Oreal to venture into the fragrance industry. This is set to be the first fragrance released by the thirteen-year-old brand, which was nominated for 2015’s CFDA Womenswear Designer of the Year award. L’Oreal has produced several popular fragrances for luxury brands, including Giorgio Armani, Ralph Lauren, Viktor & Rolf and Yves Saint Laurent. This is a significant factor towards Proenza Schouler’s recent business expansion.

This news follows rumours that the brand’s minority shareholder, Andrew Rosen, is looking to sell his stake in the business. It was recently reported that Castanea Partners were in discussion of buying half of Proenza Schouler, but this comes after previous rumours that LVMH were interested in buying a stake, which never actually materialised. However, the questionable ownership of the brand has not prevented them from venturing into new fields, including handbags in 2008, footwear in 2012, and this new fragrance deal with L’Oreal.