>> Christian Lacroix didn't end up with the happy ending he was hoping for. A Paris commercial court approved a restructuring plan by Lacroix owners the Falic Group today, allowing the French house to be converted to an accessories and perfume licensing operation. Potential buyers, including an Ajman sheikh, failed to present financial guarantees by today's imposed due date.
In the face of the news that Lacroix ready-to-wear and couture are officially no more, and the label's workforce would be cut by 100 to approximately a dozen, the designer spoke to WWD:
“This is the most awful decision possible and I’m speechless with anger. I’ll do my best to find a way of battling. But it seems no one is interested in the future of Lacroix in such a cynical world where the word ‘fashion’ doesn’t have the same meaning as mine. My duty has to be struggling against the Falics . . . against this decision and against the state, who did nothing in fact.”
Lacroix CEO Nicholas Topiol said that Falic Group would continue to negotiate with prospective buyers; he remains optimistic. “I am working on finding a solution for the company. Everything is still possible." If no deal comes through, Topiol added that he plans to restart Lacroix's ready-to-wear under license, with a model similar to those employed at Jean Paul Gaultier or John Galliano.