New York—Labelux, the London-based luxurygoods group, confirmed Wednesday that it has sold back the Derek Lam label to the designer and his chief executive, Jan-Hendrik Schlottmann.
The parting is apparently amicable, too. Labelux, which shares an owner with Coty Inc., said it wants to concentrate on its leathergoods businesses, including Jimmy Choo and Bally.
“Jan and I are excited to assume sole leadership of the company and are grateful to all of our employees and partners for their talent and hard work in getting us to this point,” said Lam. “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.”
Lam started his brand in 2002 and Labelux bought it in 2008 and provided the financial backing for Lam to expand the brand, adding eyewear, accessories and footwear. Lam also introduced his fusion collection, 10 Crosby, last year and a limited collection for Kohl’s.
Lam won the CFDA Perry Ellis-Swarovski Award for Emerging Talent in Womenswear in 2005, and was a winner of the Vogue/CFDA Fashion Fund Prize in 2005. In 2007, he won Accessory Designer of the Year at the 2007 CFDA Awards.