What was thought to be Lacroix's last fashion show on July 7th at the Haute Couture shows in Paris
After previously reporting on the grim state of affairs at Christian Lacroix, I am happy to say there might be light at the end of the tunnel. It looks like the Italian Borletti family who has large shares in both Printemps and Rinascante departments stores, has made a strong offer to rescue the French fashion house. The offer would even keep a good portion of the present company employees. The Falic Group, who currently owns Lacroix, have also submitted a restructuring plan.
The French have taken the news of Lacroix’s financial troubles as particularly hard because Lacroix is such a staple in French fashion and even French culture, with French culture minister Frederic Mitterand quoted as saying that the loss of Lacroix would be “a cultural disaster.” Maybe his July 7th show at Haute Couture in Paris won’t be his last? Only time will tell.
Image credit NY Times
