Lam Chop
Another month, another designer sale. In July, just weeks after Tuleh and Rachel Roy announced that they’d found new financial partners, Derek Lam sold a majority stake in his company to Vienna-based Labelux Group for an undisclosed sum....
Another month, another designer sale. In July, just weeks after Tuleh and Rachel Roy announced that they’d found new financial partners, Derek Lam sold a majority stake in his company to Vienna-based Labelux Group for an undisclosed sum. Labelux also owns shoe brand Bally International as well as London jewelry designer Solange Azagury-Partridge’s business. “We wanted to really make this a significant endeavor,” Lam told Women’s Wear Daily, W’s sister publication, of his namesake brand. “We came to the realization that to do that, you need a significant investment.” Lam, who will continue as creative director of Tod’s, plans to use the new funds to, among other things, open a 3,700-square-foot boutique at 10-12 Crosby Street in New York’s SoHo early next year.
Photo: Fairchild Fashion Group
