Derek Lam International LLC has sold a minority stake to Sandbridge Capital.
The terms of the deal were not disclosed but involve Sandbridge Consumer Fund I taking a “significant minority position” in the Derek Lam brand and has resulted in a recapitalization of the New York-based designer company.
Jan-Hendrik Schlottmann, chief executive officer and cofounder of Derek Lam, said, “We are very pleased to have Sandbridge as our new partners, helping us to implement our growth plan. Derek Lam has a tremendous amount of brand momentum right now, and we are excited about the prospects of partnering with industry veterans who understand our business and can be value-added partners immediately.”
Sandbridge, which is based in New York and is privately held, focuses on the consumer and retail sectors. It was formed with backing from a group of fashion industry icons, the private equity firm said. It noted that two senior advisers include designer Tommy Hilfiger and former Gucci Group ceo Domenico De Sole.
David Fife, managing partner of Sandbridge, said, “Derek Lam is positioned to become the next premier American luxury lifestyle brand. We are excited about the opportunity to partner with such a talented designer like Derek and provide the growth capital necessary to expand the brand’s retail, wholesale and direct-to-consumer e-commerce platforms.”
De Sole said, “I have been mentoring Derek since 2004 after he won the CFDA/Vogue Fashion Fund, and I continue to admire his elegant aesthetic. I’m confident that with his outstanding talent and strong work ethic, he will take the Derek Lam brand to new heights.”
Derek Lam is a 10-year-old American sportswear brand launched in 2003. The founders of the brand in 2012 repurchased the business from the firm’s prior owner Labelux. The company offers the Derek Lam Collection and the diffusion line 10 Crosby Derek Lam.
Derek Lam, the designer, in 2005 won the CFDA Perry Ellis — Swarovski Award for Emerging Talent in Womenswear and in 2007 was awarded the CFDA Accessory Designer of the Year honors. He was previously a designer at Michael Kors, and was once the creative director of Tod’s.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast