Luxury goods group Labelux has sold luxury fashion brand Derek Lam to the label’s founders.
Designer Derek Lam and chief executive officer Hendrik Schlottmann have brought the brand from Labelux, which acquired a majority stake in Derek Lam in July 2008.
The brand, which operates as a wholesale business in 15 countries, launched a diffusion line, 10 Crosby Derek Lam, last year.
Reinhard Mieck, chief executive officer of Labelux, said: “We have taken a strategic decision to refocus our activity on luxury leather goods and shoes and to concentrate our efforts on providing these 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.”
Lam said he was “excited to assume sole leadership of the company”. He added: “Now, we look forward to our continued growth and to the many exciting possibilities ahead of us. ”