Private equity firm rumoured to invest in Proenza Schouler
Castanea Partners, a private equity firm, has been reported as a potential new investor of the New York-based womenswear label Proenza Schouler. This follows rumours last year that luxury brand conglomerate LVMH was to invest – which never materialised.
Castanea is reportedly in talks to acquire a fifty percent stake in the brand from Rosen (who owns around forty percent), John Howard, and a number of other current investors. Castanea controls a broad range of companies, typically investing between $15 million and $75 million, but does not yet currently own a designer fashion label.
A Proenza Schouler representative is yet to comment on the rumours.
The brand’s design duo Jack McCullough and Lazaro Hernandez have been particular about its investments, and recently pulled out of a deal with the young French couturier Maxime Simoens. Due to these reasons, it is unknown whether the label will accept the Castanea investment.
