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.

These days the celebrated French leathergoods company Longchamp is best known for its super-stylish handbags as seen in ad campaigns starring Kate Moss (above). Most people are unaware however that the company, which dates back to 1948, started off selling luxurious leather-covered pipes to Paris' bon ton. The rich heritage of the firm is celebrated in Longchamp, a gorgeous new illustrated history from Abrams by Marie-Claire Aucouturier with photographs by Philippe Carcia, published in celebration of the company's 60th anniversary.

Beginning with the deluxe pipes, which became a favorite of Elvis Presley (pictured smoking one in the book), the company built a brand as a bridge between the very social equestrian world and the world of luxury travel. Named after Paris' famed Longchamp racecourse where Napoleon III presided over the Royal Enclosure, the company adopted a horse and rider as its logo. The pipes were soon followed by cigarette cases and other leather accessories for smokers, then expansion into small leather goods in the 1950s, followed by the opening of the first Longchamp boutiques in the 1970s and '80s.

The first in a line of luxurious luggage soon followed. Longchamp thrived where many firms failed by catching on early to the importance of the Asian market. In the early 1970s, Philippe Cassegrain, Longchamp's founder, designed a line of bags called "LM," destined for the Japanese market, recently re-released for the anniversary. Its success gave Longchamp a solid reputation as a creator of women's handbags and enabled the company to expand further. In 1993 Cassegrain introduced the Le Pliage collection of foldable travel bags made of colorful vinyl with luxurious leather trim, an instant smash; two billion of them have been sold since.

At his Paris fashion show on Sunday, the ever-entertaining Karl Lagerfeld debuted a new line of luxurious mink-covered scooter helmets with built-in iPod capability. The over-the-top accessories were created in collaboration with French luxury helmet maker Les Ateliers Ruby and Apple. They're road legal and feature full carbon fiber shells and ultra-soft burgundy nappa lambskin linings. The iPod hookup lets you pipe music directly to the earpieces.

Lagerfeld, who also heads up Chanel and Fendi, showed matching mink vests and other garments in the futuristic fashion show for his eponymous label. Apparently the haute helmets are Lagerfeld's comment on the recessed economy. "Now everyone is on scooters, even chic women, so we had to do the helmet," he explained. No word yet on when the helmets might be made available for sale or what their price would be, but safe to say they'll be extremely expensive.

What do you sit in after taking off your $150,000 Hermès crocodile peacoat? A $24,000 Hermès crocodile chair, of course. The newest incarnation of the French luxury goods house's classic Pippa folding chair design is finished in the world's finest matte black crocodile skin, with an ebonized maple frame and nickel plated hardware. The limited edition crocodile Pippa is based on an original designed in pear wood and saddle leather 20 years ago by architect and designer Rena Dumas, wife of Hermès President Jean-Louis Dumas-Hermès. It has now expanded into a collection of elegant foldable indoor and outdoor furniture.

[via JustLuxe]

Last summer we told you about Kate Moss' cinematic ads for French fashion luxury leathergoods house Longchamp. Now the supermodel is starring in Longchamp's newest campaign, alongside a sexy Russian lookalike named Sasha Pivovarova. That's Kate, above, on the left, and Sasha on the right, sporting matching hairdos and outfits from Longchamp's spring ready-to-wear line. The new ads were shot by Mert Alas and Marcus Piggot in Los Angeles. In January, Longchamp will debut a video about the making of the ads on its website.

French designer Thierry Mugler, known for his fetishistic fashions, is giving the world's fastest yacht a $5 million makeover. The 112-ft. Gentry Eagle (above), designed by racing legend Tom Gentry, earned the World's Fastest title when it broke Virgin tycoon Richard Branson's record for the speediest transatlantic crossing in 1989. In 1992 the Gentry Eagle was rebuilt as a pleasure craft, and is now being revamped once more as a collaboration between British yacht broker Weyves Yachts and Agent de Luxe, a fashion-design agency run by Donald Potard, former president of Jean Paul Gaultier.

When completed by October of next year, the yacht is expected to fetch about $10 million. "Yacht owners are using their vessels as places to entertain, and they want to express their personal style," Potard tells the Robb Report. "Crystal, chandeliers, metals ? the interior will have a distinctly 'Mugler-esque' feel." He says the designer drew inspiration from futuristic films like Barbarella and Star Trek, as those are Tom Gentry's personal favorites.

In 1962, photographer Douglas Kirkland was sent to Paris on assignment for Look magazine to photograph the legendary couturier Coco Chanel. Kirkland, 27, ended up living with the elegant 79-year-old Chanel for three whole weeks, photographing her in public and private. The complete collection of never-before-seen photographs is being published this week in book form - Coco Chanel: Three Weeks / 1962 - by Glitterati to coincide with the 125th anniversary of Chanel's birth.

Included as well are Kirkland's reminiscences. He recalls for instance that as Chanel prepared for the show, omnipresent cigarette dangling from her lips, she snapped, "Fashion has become a joke. The designers have forgotten that there are women inside the dresses." In addition to the regular edition which costs $50, Glitterati will publish a deluxe limited edition of 100 in a slipcase with a signed and numbered Kirkland print for $500.

Famed French fashion house Lanvin of Paris is in talks to sell a major stake in the business to Qatar's royal family. Lanvin owner Shaw-Lan Wang, a Taiwanese media magnate, is said to be keen to exploit the brand's burgeoning success under current creative director Alber Elbaz, formerly of Yves Saint Laurent, Vogue UK reports.

While nothing is set in stone, the deal is said to be worth many millions. Qatar's ruler, Sheikh Hamad bin Khalifa Al Thani, is ranked at No. 7 on Forbes' list of the world's richest royals with a fortune of $2 billion. Since Sheikh Hamad ramped up the development of Qatar's vast oil and natural gas reserves, the country now has the highest per-capita income in the world.

This is without a doubt the most extravagant men's item we've come across for fall (or any other season, for that matter): a $150,000 peacoat from Hermès made entirely of crocodile skin. The ultra-luxe interpretation of a menswear classic, which originated with European navies some 250 years ago, was produced by Hermès men's designer Véronique Nichanian for the famed fashion house's Fall / Winter 2008-09 collection. The Hermès flagship store on Manhattan's Upper East Side just received two of them, in navy blue; other colors may be special ordered for delivery in 3-4 months.

[via Kempt]

$80 billion private equity firm The Carlyle Group just announced plans to acquire a 48% stake in Moncler, the French luxury sport label founded in 1952 famed for its stylish down jackets. In fact, Moncler claims credit for inventing the down-filled ski jacket, which it has supplied to French Olympic teams for the winter games since the 1960s. The jackets have become extremely fashionable and can be seen on the slopes from Aspen to Gstaad. The company has collaborated with the likes of Balenciaga, Yohji Yamamoto and Fendi. It's high-end Gamme Rouge line is designed by Italian fashionista Giambattista Valli. "Moncler is a historic sport luxury garment brand that has returned to play a relevant and prestigious role in the market," Carlyle Group managing director Marco De Benedetti said in a statement, noting plans for expanding the company globally.

This is certainly turning out to be a banner season for Kate Moss; it seems every time we turn around she pops up in another fall ad campaign. And we might add that despite all Kate's been through, she's looking more gorgeous than ever. We already told you about her Just Cavalli and David Yurman campaigns, and she re-upped with Donna Karan as well; the latest is for French fashion house Longchamp, for whom she has modeled several seasons running. The cinematic black-and-white ads were shot by photo duo Mert Alas and Marcus Piggott at the famed Café de Flore in Paris. Kate's co-star is French actor Gaspard Ulliel, who appeared in the last Hannibal Lecter film. Kate's been busy elsewhere as well. She recently posed topless in W magazine and is launching a new fragrance.