Labelux buys controlling stake in Derek Lam |
|
| Wednesday, 09 July 2008 | |
|
DEREK LAM International LLC has sold a majority stake to Vienna-based luxury company Labelux. A deal necessary to enable the
fashion brand to move forward and expand around the world. Or, as the CEO of Labelux Berndt Hauptkorn put it “to move the designer Derek Lam towards the brand Derek Lam”. Until now, the designer's company was entirely privately financed. The change reflects Lam's plans for expansion. The two-time CFDA winner's collection currently retails in 35 countries, but in 2009 Lam plans to open his first freestanding boutique in Manhattan on Crosby Street. The opening of this 3,700 square feet space is one of the first moves the fashion brand can make with the financial support of its new shareholder. SANAA, the Japanese architects that made fame recently in New York City with the design of the New Museum, will design the new store.
Lam launched his namesake business five years ago and has expanded into eyewear –now licensed to Modo- and shoes and handbags licensed to Tod’s. Lam is the creative director of Tod’s and will continue in that role. Labelux is owned by the Benckiser family, who also own the beauty giant Coty, the Swiss shoe brand Bally and the London jewelry designer Solange Azagury-Partridge. |
