US: Labelux sells Derek Lam back to founders
Luxury fashion brand Derek Lam has been bought back from Labelux by its founders Derek Lam and CEO Jan-Hendrik Schlottmann.
A majority stake in the brand was acquired by Labelux in 2008. The group, which also owns the Jimmy Choo and Belstaff brands, said it has sold Derek Lam as part of a strategic decision to refocus its activity on luxury leather goods and shoes.
Since 2008, Derek Lam has launched a diffusion line, 10 Crosby Derek Lam and expanded to operate as a wholesale business in 15 countries, opened two stores in New York and expanded into accessories. It has also partnered with US department store operator Kohl's on its DesigNation limited-edition collection, which will launch in April 2013.
"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."
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