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Christian Lacroix Sits Out Paris Fashion Week, But May Be Bought by Emirati Sheikh

>> Paris is minus a Christian Lacroix fashion show this time around — according to his team, this is the first time he hasn't even made a collection — but he may get one good thing out of this Fashion Week: a buyer.

Previous frontrunner Borletti, who was working with Lacroix on a bid, has dropped out because “the conditions for confirming this takeover were not brought together." Now, all eyes are on Sheikh Al Hassan bin Ali Al-Nuami, a nephew of the ruler of the emirate of Ajman, whose offer was deemed "overall very satisfactory" by Lacroix's administrator — he hopes to inject €70 million ($102 million) into the brand and keep all the company’s employees. Lacroix was involved in the talks with the sheikh; the offer involves keeping both ready-to-wear and couture businesses and will be formalized in the next 48 hours.

Yesterday was the deadline for the administrator to receive offers on the house.

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