Proenza Schouler founders exit namesake label. Is Loewe their next stop?

Proenza Schouler, the New York-based luxury fashion house, announced that founders Jack McCollough and Lazaro Hernandez will step down as creative directors effective January 31st. While the fashion industry has been speculating the designer duo is headed to Loewe, with LVMH rumoured to announce Jonathan Anderson is moving to Dior, the news of exiting their own label came as a surprise.

The duo, who established the brand in 2000 while still students at Parsons, will retain their positions as shareholders and board members while working alongside CEO Shira Suveyke Snyder to identify new creative leadership, WWD reported.

"The time feels right to make the personal decision to step down from our day-to-day leadership role at the company and hand over the creative reins to someone new," Hernandez stated in an announcement to the publication.

Under their stewardship, Proenza Schouler grew from a student project into a significant player in American luxury fashion, generating estimated annual sales of 60 million dollars and winning five CFDA Awards. "Life is short, and we never intended for Proenza Schouler to be the only professional chapter in our lives. Our biggest fear is to become complacent and so we feel the time is right to open ourselves up to new experiences and challenges, whatever those may be," the designers reflected on their departure.

This is a developing news story.