>> Christian Lacroix was missed at Paris Fashion Week, but it sounds like he could be back before long — owner Falic Group has concluded a deal to sell Lacroix's label to bidder Al Hassan bin Ali Al-Nuami. Although financial terms could not be learned, it is understood that the designer would become a minority shareholder in the company under the proposed deal.
The offer presented to the commercial court in Paris — which must still approve the deal — was made "in partnership" with Lacroix, according to a statement from the Ajman sheikh's lawyers. The sheikh pledged to continue the couture operations and ready-to-wear businesses, according to the brand's administrator, who expects the offer to be approved: "The offer has been formally lodged. It fulfils perfectly all the necessary criteria concerning maintaining the company's business, safeguarding jobs and assuming debt."
The commercial court is due to meet on the offer around October 20, and a decision could be made before the end of October.