Derek Lam, 2003–2020
In 2003, Lam launched his own label. He debuted at the New York Fashion Week in September 2003. In 2005, Lam won the runner-up prize in the CFDA/Vogue Fashion Fund competition as well as the CFDA Perry Ellis Swarovski Award for new designers.[3]
In the following years, Derek Lam and Derek Lam 10 Crosby brands soon expanded to include shoes and handbags collections. In 2006, Lam also signed a three-year worldwide licensing deal with New York-based Modo to manufacture and distribute Derek Lam-branded eyewear.[4]
From 2008 to 2012, the JAB Holding Company's Labelux division held a majority stake in Derek Lam.[5] In 2009, the brand opened a store designed by the Japanese architecture firm, SANAA, but it eventually closed.[6] In February 2010, the brand launched an e-commerce website selling the collections of ready-to-wear and accessories.
In 2012, Lam entered into a global licensing agreement with Schwartz & Benjamin, which handled design, manufacturing and wholesale for the expanded collection of Derek Lam shoes.[7]
Beginning with the spring 2018 season, Derek Lam introduced beachwear to his collection through a license with Swiss-based Italian manufacturing firm Albisetti.[8]
In 2019, Lam closed his eponymous luxury collection[9] to focus more on Derek Lam 10 Crosby – which at the time accounted for 70 percent of the company’s overall business –[10] and its expansion to contemporary styles.[11] In January 2020, Public Clothing Company acquired the Derek Lam brand. Lam remained the Chief Creative Officer of the Derek Lam business, including Derek Lam 10 Crosby. Regarding the sale, Lam said in an interview, “Dan and his team have a tremendous opportunity to grow the branded business, both geographically and with new product categories. There’s a huge opportunity in international that has essentially been untapped."[12]
