Last month, rumors circulated that Permira, the London-based private equity firm that owns Proenza Schouler, was shopping the US-based brand around.
Now, sources tell us that just a day after the news broke, designers Jack McCollough and Lazaro Hernandez met with Andrew Rosen, CEO of Theory.
The modern workwear company is a part of Link Theory Holdings, which also includes brands like Helmut Lang. Link Theory Holdings is in turn owned by Fast Retailing, a Japanese conglomerate whose biggest retailer is Uniqlo.
Rosen, a former Calvin Klein exec who launched Theory in 1999 with now-rival Elie Tahari, is also an investor in labels like Rag & Bone and Alice + Olivia.
The details of the meeting are not known. However, given the timing--literally a day after the Permira story broke--it's not crazy to speculate that Rosen is:
A) Interested in investing in the brand personally. B) Offering Jack and Lazaro some friendly advice. C) Interested in buying the company through Link Theory Holdings. It will certainly be sold at a fair price, since a 45% stake was bought for just $3.7 million by Permira in 2007.
Rosen is known for having his hands in just about everything in the fashion world, so we're curious to see how this pans out.
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