LVMH to acquire 40 percent stake in Proenza Schouler

Luxury giant LVMH is reported to have held preliminary to acquire a 40 percent stake in U.S. based fashion house Proenza Schouler from its parent company Valentino Fashion Group (owned by Permira). Last year, LVMH sealed deals for a 52 percent stake in footwearfirm Nicholas Kirkwood and a 46 percent holding in London-based fashion house J.W. Anderson.

Proenza Schouler store, New York city