Proenza Schouler founders Jack McCollough and Lazaro Hernandez, who are stepping down as creative directors of the brand they founded in 2002.

Their exit is effective Jan. 31 They are widely expected to succeed Jonathan Anderson at the creative helm of Spanish luxury house Loewe, owned by LVMH Moët Hennessy Louis Vuitton, clearing the way for Anderson to eventually take up a creative role at Dior, as has been reported.

The Proenza Schouler duo have long been on the radar of top European fashion houses. Valentino Fashion Group took a stake in Proenza Schouler in 2007. Four years later, a group of backers led by John Howard and Andrew Rosen bought most of Valentino’s position.

Then in 2018, Mudrick Capital Management led the designers’ buyback of their company. According to sources, LVMH has held discussions with McCollough and Hernandez over the years about joining one of its marquee fashion houses, which include Dior, Louis Vuitton, Givenchy and Fendi.