Peter Som has had plenty to toast this year. After being named creative director for women’s wear at Bill Blass in July, the New York–based designer sold a majority stake in his namesake label to Lord & Taylor parent company NRDC Equity Partners LLC in September. NRDC, which paid an estimated $10 million, is expected to pump enough cash into the brand to build it into a lifestyle company with its own boutiques. “It relieves the pressures that come with being a totally indie fashion house,” Som told WWD. But for now, at least, his fans shouldn’t expect to see his collection in Lord & Taylor. The designer has no immediate plans to sell to the department store, which focuses on less pricey bridge and better lines.