Volkswacht Bodensee - Proenza Schouler founders to take over at Spanish fashion brand Loewe

The pair, founders of New York-based Proenza Schouler, are set to succeed British designer Jonathan Anderson who stepped down at Loewe earlier this month after 11 successful years at the group.

"Jack McCollough and Lazaro Hernandez will have the entire creative responsibility of all Loewe collections across womenswear, menswear, leather goods and accessories," a Loewe statement said.

The move is part of a major reshuffling of top jobs at global fashion brands after a round of resignations and forced departures.

The industry as a whole is facing increasingly tricky market conditions, with a slowdown in China and an escalating trade war causing concern.

McCollough and Hernandez founded Proenza Schouler in 2002, going on to develop their signature PS1 handbag while winning over A-list fans from Michelle Obama to Kylie Jenner.

"Their work over the past two decades has played an important role in shaping modern fashion while cultivating an ongoing dialogue with contemporary culture," the statement from Loewe added.

Their successor Anderson is widely tipped to take over at Dior, a fellow brand in the portfolio owned by French fashion powerhouse LVMH.

C.Bruderer--VB