Peter Som, who will remain as creative director and Elana Posner, CEO of Peter Som Incorporated, will be the CEO of the newly formed company. Richard Baker, CEO of NRDC said: "Peter Som represents a generation of talent that has become the future of the American Fashion Industry. NRDC is committed to supporting the industry by investing in and nurturing American brands with tremendous potential for international growth. Peter's perspective on modern luxury coupled with his unique design sensibility gives us a solid foundation in which to build the brand." Mr Som said: "I am very excited about the new partnership with NRDC as it will allow us to focus on the growth of the company and the continued development of our luxury brand. I look forward to a long and successful partnership and believe that we have a bright future ahead of us."