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Breaking: Signs of Lam Appear in Soho

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Jil Sander has emboldened another big-name designer to give the tail end of Crosby Street a try. Derek Lam, who's made a name for himself with collection after collection of gorgeous, cocktail-hour-ready womenswear, has just put up signs in the window of 10-12 Crosby for his first freestanding store opening in 2009. A peek inside the space, bifurcated by a row of columns, reveals beautiful high ceilings and worn wooden floors. According to WWD, the designer's able to "take his business to the next level" due to a recent cash infusion from luxury goods holding company Labelux Group. As such, we expect this boutique to be a show stopper, especially since it's being designed by Japanese architectural firm SANAA, the group that did the New Museum. Anyone want to forward us some renderings?

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· Derek Lam Sells Stake to Labelux [WWD, subscription req]