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Is Theory owner Andrew Rosen about to buy Proenza Schouler from the label's current owners, Permira? WWD reports: "The rumor first surfaced in the early spring, but Rosen, Theory's co-founder and president, denied it at the time. However, talk of a deal resurfaced this week, and sources are confident Rosen and the Proenza Schouler designers are up to something this time... For Rosen, a stake in Proenza Schouler would boost his brand portfolio. McCollough and Hernandez launched the label in 2002 and quickly developed it into one of New York Fashion Week’s hottest tickets. Rosen, for his part, already runs Theory and Helmut Lang, which Theory's Japan-based parent, Link Theory Holdings Co., acquired from Prada in 2006. Rosen also is adept at building businesses. He was instrumental in transforming Helmut Lang into a hot contemporary label and also has stakes in businesses such as Alice + Olivia, Rag & Bone and Gryphon." [WWD]