This sucks!
Insiders are reporting that Derek Lam, who won the CDFA’s best new designer award in 2005, is losing about $1 million dollars per month with an estimated total annual loss between $12 million and $15 milllion.
Yikes!
Making matters worse, sources claim that the label’s CEO, Jan Schlottman, only came to work three times in the month of August. Schlottman denies these claims, insisting that he only took ten vacation days and was on-call 24/7.
Either way, this is a major bummer! Hope they can pull themselves up by their boot straps, because it would be a shame to see such a talented designer go under.
Sad.
[Image via Getty Images.]
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Sep 02, 2009 13:30pm PDT
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