House of Lacroix to Change Hands?
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In a time when five-figure, hand-finished pink pouf skirts are an awfully difficult to rationalize purchase (even for us, masters of high fashion rationalization), the owners of fashion house Christian Lacroix are looking for a buyer. As you may recall, Louis Vuitton Moet Hennessy (LVMH) launched Lacroix in 1987, only to unload the unprofitable house rather suddenly in January 2005 to the Falic Group, a duty-free retailer based in Miami. The Falic Group is now negotiating a deal to sell a majority stake in Lacroix, one of the handful of houses that produces haute couture (along with jeans and perfume), according to reports in the Wall Street Journal and le Journal du Dimanche. Terms of the sale aren’t final, but WWD says the interested party is a group of investors from Switzerland. Sold or not, Lacroix will soon trim its workforce, which has grown to approximately 100 employees from 60 in 2005.
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