Derek Lam Assumes Ownership of Namesake Label

Posted Monday November 12, 2012 9:37 AM GMT

He’s developed quite the successful brand over the years, and now Derek Lam is the proud owner of the label that bears his name.

According to a report, Lam and his CEO Jan-Hendrik Schlottmann bought the company from London-based luxury goods group Labelux, who have decided to go a different direction.

A rep from Labelux told press, “We have taken a strategic decision to refocus our activity on luxury leather goods and shoes. We wish Derek and Jan well as we return the leadership into their capable hands.”

After the deal was done, Derek proclaimed, “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. 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.”

Photo Credit: Getty Images

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