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Derek Lam sold to Public Clothing Company

By Kristopher Fraser

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Business

Derek Lam's business has been sold to Public Clothing Company. Further details of the transaction, including its amount, have not been disclosed. Lam will continue on with the company as chief creative officer.

Sandbridge Capital, which invested in the business in 2014, and Jan Hendrik-Schlottman, Derek Lam's business partner and husband, who was also the CEO of the company, sold their shares. With the acquisition by Public Clothing Company, Lam will continue to focus on the Derek Lam 10 Crosby after shuttering his higher end, eponymous line last year.

Prior to shuttering the main Derek Lam line, 10 Crosby actually represented 70 percent of the company's business. Public Clothing Company hopes to grow the company in a sustainable way at scale, and plans to make investments in that direction.

Photo: via dereklam.com

Derek Lam
Public Clothing Company