Derek Lam buys back own label

Swiss luxury group Labelux has sold the Derek Lam brand back to its founders, Lam and Jan-Hendrik Schlottmann. The sale is part of a refocusing plan to become a global player in the luxury goods market, reported the Financial Times.

“We have taken a strategic decision to refocus our activity on luxury leather goods and shoes,” Labelux CEO Reinhard Mieck said.

In a statement Derek Lam said: Jan and I are excited to assume sole leadership of the company. We would like to thank Labelux for its support and strategic guidance over the last four years, allowing the Company to develop and affirm its position as a leading fashion brand in the global luxury market. Now, we look forward to our continued growth and to the many exciting possibilities ahead of us”.

Labelux acquired a majority stake in Derek Lam in July 2008, five years after it was founded.

Mieck said that Labelux would be focussing on providing its “core businesses with the investment, expertise and platforms to pursue their advances into the league of world-class luxury, thereby delivering strong growth synergies and long-term value for the group.”

Derek Lam launched his own label in 2003, after having worked for brands such as Michael Kors. Lam debuted his first collection during New York Fashion Week in September 2003. In 2005, Lam won the CFDA Perry Ellis Swarovski Award for new designers.

Up until September 2012 Lam was also the creative director of luxury shoemaker Tod's.

Photo: Derek Lam Fall 12