Andrew Rosen at the Fashion Fund Season Premiere

MILLENNIAL PROJECT: Is Theory tapping into some new design talent? The market has been buzzing that the 20-year-old company is developing a “Millennial collection,” where it’s asked young people on staff to design a separate capsule collection. The staffers are handling fabric selection to design as well as photo shoot production. Sources said the fall collection will be distributed to Theory’s own freestanding stores and web site. Like other major apparel brands, Theory has experienced a slowdown in sales at department stores and continues to be challenged by fast fashion and excessive discounting. The Millennial collection is reportedly being viewed as a way to ignite some fresh ideas and creativity from within the ranks as the company looks to empower the next generation of creative leadership.

A spokeswoman for Theory didn’t return a phone call and e-mail Friday seeking comment.

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