The designer departures keep coming.

This story first appeared in the March 13, 2012 issue of WWD. Subscribe Today.

According to sources, Derek Lam has parted ways with Tod’s, where he has served as creative director since 2006. It is understood that Lam’s fall collection, which was presented during Milan Fashion Week last month, was his last for the Italian leather goods house.

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The New York designer was first tapped by Tod’s in 2005 to design a capsule collection of sportswear for spring 2006. It was inspired by chairman Diego Della Valle’s motor yacht, the “Marlin,” which once belonged to former President John F. Kennedy, with clothes that reflected the boat’s understated, practical and relaxed spirit. The relationship between Tod’s and Lam evolved, and in November 2006, Tod’s named the designer creative director for the entire brand, including ready-to-wear as well as handbags and shoes. During his six years at the brand, Lam added a fashion spin to house icons like the D bag and the Aspen shoe, and created a small but strong rtw and outerwear assortment, which was exclusive to the Tod’s network of stores.

For fall, Lam was inspired by a photo he saw of a young, wild Mick Jagger and his circle of friends, including Anita Pallenberg, lounging like squatters in a grand estate. Lam translated the idea with a subtle hand, adding more leather outerwear, including a white suede coat and patent leather green and gold metallic shearlings. He also updated new versions of the D and Miky bags, as well as the Aspen shoe, which he interpreted with a platform heel.

It is understood that Lam’s Tod’s contract would have been up in September.

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Lam’s departure coincides with continued speculation that John Galliano was in talks with the Italian firm to either do a Tod’s capsule collection or revamp its Schiaparelli brand. However, Della Valle firmly dismissed the rumors.

Further information on Lam’s departure could not be learned at press time. Lam couldn’t be reached on Monday, and Tod’s declined to comment on the news.

The company is due to report its 2011 earnings today, and it is likely that Della Valle will address Lam’s departure then.