Designer Dish Update. Lam’s CEO Claims Money Rumors Untrue.

September 3, 2009 • Fashion

Will Derek Lam be alright after all? His CEO says yes.

After yesterday's spread in Page Six of the New York Post about designer Derek Lam's label expected to lose between $12 and $15 million dollars by the end of this year, his CEO is crying foul. Jan Schlottman, chief executive of Lam's enterprise, who was rumored in yesterday's story to have stopped showing up to work last month, vehemently denies the allegations that the company is in trouble. He told  New York Magazine following the NYP story yesterday that the whole story is, "completely untrue". Because Lam's is a privately owned company he is not required to release sales figures one way or another so no one really knows for sure if there is a problem financially or not. But Schlottman insists the company is stable, and believed the rumors may have been sparked from when the label spent
money on an ad campaign and new store this year, which did attribute to an
overall loss.

Article Source: newyorkmag
Photo Source: bagsnob
-Alia Rajput

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