Derek Lam has found a new home.
The designer said the brand had been sold to Public Clothing Co. Lam is joining the company as the chief creative officer of the new Derek Lam operating business within PCC.
Sandbridge Capital, which invested in the company in 2014, has also sold its stake, according to Lam.
Founded in 2003, Derek Lam initially focused on the luxury Derek Lam Collection and then the advanced contemporary Derek Lam 10 Crosby.
“I’m excited by the possibilities of working within the Public Clothing platform and further developing the Derek Lam 10 Crosby business,” Lam said. “Dan and his team have a tremendous opportunity to grow the branded business, both geographically and with new product categories.”
“I look forward to working with Derek to strategically grow the Derek Lam 10 Crosby brand and other Derek Lam trademarks in the future,” said Dan Shamdasani, founder and chief executive officer of PCC.
PCC was founded in 1993 as a private-label business, acquiring Generra, and the license for Perry Ellis women’s in the early Aughts. The company transformed itself into a multifaceted platform capable of supporting a range of fashion and accessory brands, including ATM Anthony Thomas Melillo and active line NOS — No Off