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Valentino Extravaganza The Aftermath Begins

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by Lauren Goldstein Crowe
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Jul 11 2007 12:00am EDT

Valentino Extravaganza: The Aftermath Begins

Is it too good to be true? Designers Proenza Schouler got a public company to take a less than majority share of their business. It was announced today that Jack McCollough and Lazaro Hernandez (Proenza Schouler are their mother's maiden names) have sold 45 percent of their label to the Valentino Fashion Group for $3.7 million. Private equity company Permina Holdings now holds the majority stake of the Valentino Fashion Group and is in the process of buying out the other shareholders in order to take the group private. What remains to be seen is what role, if any, Proenza Schouler will have at Valentino when Valentino retires. Neither party is commenting of course, but as I have said before, when a minority investment is made you have to wonder what the investor is getting to enable them to justify sacrificing control. □

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