| Page 2 of 4 < > |
Abroad Jump
Derek Lam, left, and partner Jan-Hendrik Schlottmann are taking their budding line onto the world stage, having made favorable impressions in pockets of the United States.
(Helayne Seidman - For The Washington Post)
TOOLBOX
   Resize
COMMENT
 Discussion Policy
 CLOSE
Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.
Who's Blogging  |
Only a few budding fashion entrepreneurs such as Zac Posen have seized on the global approach to business development, which remains an unproven strategy. But Lam is in a unique position, in part because of his background.
He is Chinese American, grew up in San Francisco, graduated from the Parsons School. The bulk of his career has been divided between working for a big sportswear brand in Hong Kong, and for designer Michael Kors in New York.
"I don't think this is an answer that fits every situation. My sense is it depends on who you are and where you're known," says Domenico De Sole, former head of Gucci Group and now chairman of Tom Ford International. "For Derek, it makes great sense."
De Sole has been advising Lam since last year, when Lam was a runner-up for a Vogue/CFDA Fashion Fund Prize and, as part of his award, brazenly requested De Sole as a mentor.
"Domenico has an endless array of contacts," says Jan-Hendrik Schlottmann, 41, Lam's business and personal partner. "He's like a father figure."
Lam's work in Hong Kong has given him name recognition there. He also signed an agreement with Tod's -- the Italian leather goods house famous for its driving moccasins -- to design a small collection of ready-to-wear. The deal gives Lam the opportunity to work with and learn from one of Italy's most respected leather firms. With three years to go on his contract, it also provides Lam with a paycheck, no small matter since his own line is self-financed. The relationship also has given him a presence in Europe without his having to spend a dime.
When Lam wanted to create his own line of handbags and shoes -- essential elements to building a profitable fashion house -- he turned to Tod's for the licensing deal.
"To have that kind of industrial tool as a starting company, you can't really put a number on that," says Schlottmann.
Lam's privately held company reported net sales of $4.8 million in 2005, the first year it posted a profit. It has since exceeded that sales number -- although the company won't say by how much. Fifty-five percent of the company's revenue is derived outside the United States, with its strongest markets in France and Italy.
But for a small American company there are limits to instant globalization.
"At some point he will want to open a store. It will be in the U.S. because there aren't the resources to open in London," De Sole says. (A company spokeswoman says a boutique is planned for late next year.)
"If you're talking of consumers in general, the store represents the brand," De Sole says. "A store is a temple of the brand."
