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Christian Lacroix May Have a Buyer

christian-lacroixChristian Lacroix, the top-flight couture designer, earlier this month oversaw what many thought would be his last show for the time being as the global recession hit the luxury label he had grown for 22 years.

Lacroix needed backers with deep pockets to plug the estimated £50 million shortfall for a re-launch of the label which launched insolvency proceedings in late May. He managed to put on a small show at Paris Couture Week in which, reportedly, only the models were paid.

However, investment group Bernard Krief Consulting is planning to make an offer next week for the cash-strapped French fashion designer – which it believes is a part of the France’s cultural heritage.The buy-out could see Christian Lacroix return to the business of high-end fashion and replace faith in luxury brands.

The Christian Lacroix label has never made a profit in its 22 years of existence. Bernard Krief Consulting said it believed it was the only bidder for the company and it aims to increase Christian Lacroix’s revenues fivefold within five years.

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Editors and staff from the Business Desk at The Global Herald.

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