The New School in New York City has announced an $8.5 million gift from board chair Joseph R. Gromek and his wife, Gail, in support of the Parsons School of Design.

The largest individual gift to Parsons in the school's 123-year history will establish the Joseph and Gail Gromek Institute for Fashion Business, which will serve as an academic hub and host programs that inspire, educate, and develop the next generation of business, fashion, and organizational leaders. The gift also includes support for an endowed directorship, a faculty position, faculty and student research, outside collaborations, and public programming.

Gromek, who retired as president and CEO of the Warnaco Group, is now a retail and apparel consultant and has served as a member of the Parsons board of governors since 2005. He joined the board of The New School in 2011 and was appointed chair in 2012.

"The Joseph and Gail Gromek Institute for Fashion Business will prepare students to become the next generation of design leaders and entrepreneurs," said Gromek. "My hope is that it will serve as the crossroads for the study of fashion business, retail, and brand management, further establishing The New School as the premier destination for design education. This gift reflects Gail's and my deep commitment to the [school], and we are delighted to support the creation of this innovative learning center.