Derek Lam closes collection business

After a 15 year run, fashion designer Derek Lam is hanging up the hat on his collection business and will now be focusing his efforts on his contemporary line, 10 Crosby Derek Lam. “The momentum is there,” Lam said to Vogue.com regarding his 10 Crosby business. “It’s been growing at a nice clip, and there’s a lot of opportunity.”

Lam's rise in the fashion industry began in 2003 when he launched his own label, that was quickly embraced by the fashion industry. From 2005 to 2010 he also served as creative director of Italian luxury label Tod's. In 2005, Lam was a runner-up for the Vogue/CFDA Fashion Fund, and that same year he also received the CFDA's Emerging Designer Award.

He was catapulted to household name status during Michelle Obama's two terms as First Lady of the United States as she was known for wearing his designs. With shifting consumer tastes though, Lam had trouble keeping up with the shift to athleisure and logo T-shirts. With the Derek Lam Collection line seeing no growth in terms of dollars, the designer decided it was best to focus on his contemporary collection.

With his new focus on 10 Crosby Derek Lam, the designer also has a new focus on sustainability, the buzz word on everyone's lips in the industry. He's began using non-chromed leather in his collections, in addition to recycled cashmere and polyester. He's hoping to expand on his sustainable efforts with 10 Crosby Derek Lam.

photo: courtesy of Derek Lam