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Christian Lacroix Still Hanging in the Balance, Decision Postponed Again

>> Just when it looked like the Lacroix saga might be nearing its end — not so fast. A final decision on new ownership, which was first supposed to be made October 27 and was later postponed to yesterday, has once again been put off until Dec. 1, partially because the sheikh frontrunner, who made a $100 million offer in October, "could not show the documentation certifying the funds needed for the acquisition were available" ahead of yesterday's tribunal, according to judicial administrator Regis Valliot.

“We are still hopeful that any of the plans can be finalized. The Ajman offer remains our preference,” Nicolas Topiol, Lacroix's CEO, told WWD. Same goes for Christian Lacroix: “I remain confident in the sheik’s will.”

And if the sheikh doesn't give proof of finances? »If by Dec. 1, the sheikh does not show the financial documentation required, the restructuring plan submitted by the Falic Group, Lacroix's current owners, will be implemented. The Falics have shelved their original plan of reducing the house to a licensing operation, and have instead signed an agreement with French turnaround specialists Bernard Krief Consulting to team up on licensing.  In that case, Krief would have control over couture, ready-to-wear, and jewelry, with plans of up to 200 boutiques in five years.  Krief added that they have invited Lacroix the designer "to be the creative leader of this new company," but without an equity stake, as he would have if the sheikh takes over the company.

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