Derek Lam sells majority stake to Labelux

[shirleebee]

No surprise here...

A Stake In Derek Lam

09 July 2008, 11:54AM

DEREK LAM has sold a majority stake of his business to Vienna-based luxury group Labelux - which also has Bally International and jewellery designer Solange Azagury-Partridge under its wing - five years after launching his company.

Plans for expansion, including the first freestanding Derek Lam store in New York's Crosby Street last year, will be one of the first moves that the fashion brand can make with the financial support of Labelux Group, whose parent company, Joh. A. Benckiser SE, also owns the beauty giant Coty Inc.

Of the move, Lam told WWD: "We wanted to really make this a significant endeavor, and we came to the realization that to do that, you need a significant investment that was beyond what we have been doing for the first five years."

Lam will continue in his role as creative director of Tod's.

Ally Pyle




Have there been any other major acquisitions/partnering of designers & investors lately?

[lovefrommilan]

This is a good thing, I think! Now Derek Lam can expand.

[kimair]

since this isn't a rumour, it's being moved to designers & collections...

[fashionista-ta]

I hope this works out for him & he doesn't lose his name ...

[lovefrommilan]

Don't want another Herve Leger incident

[shirleebee]

Do you guys think Rodarte will ever expand their brand?