2012 November 7
Derek Lam Acquires Derek Lam From Labelux
Patrick McMullan View Gallery
(NEW YORK) Labelux is letting go of Derek Lam, a brand it's held a majority stake in since 2008, by selling the label back to its eponymous designer. Lam and co-founder Jam-Hendrik Schlottmann now own the brand in full. In the past four years, Labelux's financial footing has allowed Lam's brand to flourish through the addition of accoutrements, including bags, specs, and shoes. Last year, Lam debuted a diffusion line called 10 Crosby Derek Lam.
Lam and Labelux are parting ways because the private investment outfit, which shares an owner with fragrance behemoth Coty Inc., is honing in on its leather footwear and bags businesses. Other major brands in the Labelux fold include Jimmy Choo, Belstaff, and Bally. Labelux was founded in 2007, one year prior to acquiring Lam's brand. This seemingly amicable split is the first for Labelux in its five-year history.
Lam graduated from Parsons in 1990 and launched his namesake line in 2002, after a lengthy stint at Michael Kors as well as various industry gigs in Asia. Shortly after rolling out his inaugural RTW threads, Lam was picked up by Bergdorf's and Barneys. The industry buzz manifested on the awards front with a CFDA/Vogue Fashion Fund nom upon launching. Beginning in 2006, Lam started doing double duty with his appointment as creative director at Tod's; he stepped down from the role with the luxe Italian leather goods house earlier this year. Seven years ago, Lam scored the CFDA's Swarovski Perry Ellis Award; in 2007, he nabbed another CFDA award for Accessory Designer of the Year.
Lam is distributed wholesale in 15 countries at the moment, and he has two NYC boutiques. In addition to working on his eponymous line and its Soho-monikered offshoot, 10 Crosby Derek Lam, the designer recently whipped up a capsule collection for Kohl's as part of the affordable department store's ongoing DesigNation project. Expect Lam's frocks for Kohl's to hit stores in spring 2013, following Narciso Rodriguez's DesigNation debut next week.
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