News & Scoops

2009 October 8

Lacroix Bailed Out?

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(NEW YORK) The financial troubles of Christian Lacroix have been a long-documented journey, but it seems as though the company might finally be about to turn around. Falic Group, the company that owns Lacroix, has reportedly inked a deal following speculation that the fashion house would be sold to Al Hassan Bin Al Nuaimi, an Ajman sheikh. Though terms of the deal aren’t immediately available, the initial understanding of the arrangement made clear that Lacroix’s couture business would be saved (it was expected that, if a buyer wasn’t found for Lacroix, the brand would be reduced solely to a licensing company). The deal has yet to be approved by the commercial court in Paris. Lacroix's skipped showing during Paris' spring 2010 fashion week; the designer's most recent runway show was for the fall 2009 couture collections in July.

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