Christian Lacroix Files for Bankruptcy
Last month my colleague Deidre Woollard reported that French fashion house Christian Lacroix was looking for investors to shore up its business. Now the brand has filed for bankruptcy in the wake of an increasingly bleak financial picture. Lacroix, which is owned by duty free retailer the Falic Group and employs 125 people, has been hit hard by the faltering market for ultra-luxury goods like haute couture gowns. Lacroix chief executive Nicolas Topiol said the economic crisis had "considerably hurt our revenues," the London Times reports. Major retailers recently stopped buying new Lacroix merchandise and last month both Neiman Marcus and Saks reduced their orders for Lacroix apparel considerably. Sales of the Lacroix women's summer collection are down 35% this year; last year the company reported a $15 million loss.
Reader Comments (Page 1 of 1)
C.S. May 28th 2009 2:40PM
I really don't think you could have chosen a better picture as evidence for why they're going under. Any company whose inspiration is (apparantly, judging from the photo) Henly-Boatraces-Meets-Corpse-Bride pretty much deserves some time to themselves to think about where it all went wrong.
ratatoullie May 28th 2009 5:34PM
the CEO is an amateur clown himself........I'm sure he's still on the payroll!!!
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Madga de Carta Jun 11th 2009 5:30PM
Dear C.S. and the rest of you with your cultural head stuck firmly up your...
His work is a practice of the art form of fashion. Art. But perhaps they never taught you that word in your one room school house in Iowa. That's art spelled a-r-t.
Spend a moment researching fashion as an artform you'd find that these clothes aren't made for the Target consumer such as yourself but are instead meant as a display - as a show - for those with an imagination... and/or possibly a collector who can afford such insanely detailed, time consuming labors of love, as each of his pieces are.
I feel terrible for Christian Lacroix... And I feel bad there are so many ignorant people in this world like you C.S. Don't be stupid. Or rather, don't live up to the idea that most have of americans - uncultured AND stupid.