Skip Nav
Spring Fashion
The Weekend Outfits Every Woman Should Try
Anna Wintour
Every Question You've Ever Had About the Met Gala, Answered in an Instant
DIY
Fashion Hacks Every Woman Needs to Know

Derek Lam Is Leaving Tod's This Fall

Tod's Confirms Derek Lam Will Leave the Brand

>> The rumors are trueDerek Lam's contract with Tod's is set to expire this Fall, and the company doesn't appear eager to renew it.

In a statement released Tuesday afternoon, the company said it's looking for someone to replace Lam after his current contract ends on Sept. 30. It made the announcement on the same day that it reported a profit increase of 24 percent from last year, and said it would actively be looking for someone who has the time and energy to fully dedicate himself or herself to the job. The Financial Times posted the statement in full:

"Following the rumors of an alleged termination of the collaboration between Tod's and Derek Lam, the company confirms that the agreement between the parties is set to terminate on 30/9/12. In the meantime, Tod's is in the process of evaluating its options, considering that, based on the company's future development plans, the role of the Creative Director of Tod's will be central and even more important. The choice will therefore be directed toward an individual with great creative talent and able to commit the necessary amount of time to the success of the brand."

That last part, about being "able to commit the necessary amount of time to the success of the brand" suggests that the company is on the hunt for a designer who isn't already running a (or in Lam's case, two) successful clothing line.

Image Source: Getty
Around The Web
Join The Conversation
Betsey Johnson Fall 2013 Fashion Week Show Is Not Cancelled
Kendall Jenner's Striped Jumpsuit at Paris Fashion Week
How to Wear a Pencil Skirt
Tod's Hires Alessandra Facchinetti as New Creative Director
Olivia Palermo Wearing a Turtleneck and Jeans
Naomi Watts in Derek Lam at Divergent Premiere 2016
Carine Roitfeld Documentary Mademoiselle C
Celebrity Friends at the Met Gala Over the Years
Pictures of Jessica Alba, Olivia Palermo, Nicole Richie Wearing the Loafer Trend
Mom Writes Touching Letter to Sephora Sales Associate
From Our Partners
Latest Fashion
All the Latest From Ryan Reynolds