Derek Lam International LLC has sold a majority stake to Labelux, a Vienna-based luxury-goods holding company. That means Derek Lam will be able to expand quite a bit around the world. Think of it as a path to Marc-dom. Or as the CEO of Labelux Berndt Hauptkorn puts it, a plan to "move the designer Derek Lam towards the brand Derek Lam."

But before they get big enough to, say, ink deals to design villas on Fashion Island, they'll start small in our very own backyard. Yes, the first freestanding Derek Lam store will open at 10-12 Crosby Street in 2009 next to the Jil Sander store. The 3,700-square-foot space will be designed by SANAA, the same Japanese architecture firm that designed the New Museum. Do feel free to get excited with us.

Derek Lam Sells Stake to Labelux [WWD]