Lacroix fashion house declares insolvency *Update* Inks Deal with Ajman Sheikh

[mikeijames]

from telegraph

He needs to launch and it bag and perfume. I still have hope for him.

thank you for posting this. unfortunately, it's crystal clear even to the designer himself the downfall of his house....his unwillingness to do something for the mass market. and honestly, who better to do "it shoes" or "it bags" than this man who overflows with creative juices.

he's like a movie star who refuses to do blockbuster films. it makes me sad, really....

(it also makes me admire those masters who have managed to keep multiple houses -- i'm thinking of the gaultiers, gallianos, and lagerfelds of the world -- alive without ever compromising their vision.)

 

[retailqueen]

^^^ Fashion is a business at the end of the day. Surely there can be a compromise between creativity/integrity and making money?

He also needs to consider the fact that he is an employer, and not making money affects his employee s's livelihood. How ethical is that?

But the good news is that he seems defiant and help is available. Cannot wait for this couture show.

 

[irulan]

There is hardly a brand with a stronger image and aesthetic as Lacroix and yet you can find not the slightest hint that somebody would use this to improve sells.
What really would work well for him, I think, is something similiar to Marc by Marc. A lot of young girls, my age and below, love the bold prints and the romantic hints of his design and are probably more risky than older clients. Drop the prices a bit and that stuff would sell like hot cakes.
I know many girls, including myself, who would dress in nothing but Lacroix if they could afford it.

 

[khyrk]

HIGH TIMES: Christian Lacroix, which is under administration, will have a couture show after all next month. A spokeswoman for the designer said Lacroix would stage a “very small and simple presentation” on July 7 of about 20 outfits on live models at Les Arts Decoratifs, where Lacroix mounted a major exhibition two years ago. Since the fashion house bearing his name sought court protection from its creditors last month, Lacroix has vowed to give “200 percent” to keep the gifted hands in his high fashion ateliers busy.

wwd.com

 

[mikeijames]

^^^ Fashion is a business at the end of the day. Surely there can be a compromise between creativity/integrity and making money?

He also needs to consider the fact that he is an employer, and not making money affects his employee s's livelihood. How ethical is that?

soooooooo true....i heard stella mccartney comment to that effect early in her career with her own house. she's a woman who never abandoned her vision -- we can argue about that vision, but she's never left it -- but she made important business decisions to sustain her house.

But the good news is that he seems defiant and help is available. Cannot wait for this couture show.

i can't wait either. i say, viva la revolucion.

 

[dior_couture1245]

I'm strangely optimistic about this whole thing...Lacroix's fighting spirit has certainly rubbed off on me, and the simple fact that he's determined to save his business has given me hope that it will, indeed, survive.

 

[ponytrot]

all the best wishes Lacroix will get it back on its feet! It would be such a same if we didn't see his brilliant couture creations - definitely a personal highlight.

 

[maimon]

Lacroix's Show Will Go On


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Christian Lacroix spring couture 2009
Photo By Giovanni Giannoni
Launch Slideshow 1 image

More on Subject

• Christian Lacroix Hopes for Rescue

HIGH TIMES: Christian Lacroix, which is under administration, will have a couture show after all next month.

A spokeswoman for the designer said Lacroix would stage a “very small and simple presentation” on July 7 of about 20 outfits on live models at Les Arts Decoratifs, where Lacroix mounted a major exhibition two years ago.

Since the fashion house bearing his name sought court protection from its creditors last month, Lacroix has vowed to give “200 percent” to keep the gifted hands in his high fashion ateliers busy.

from WWD

 

[Blanche DuBois]

Well I just hope he gets back on a bit more commercial track
although I do not see that possible

He seems to be fighting for an idea, that clearly doesnt work, for nowadays at least, and I always like to think that people should evolve or change dresses like layers,

I wouldnt wear him...

 

[couturecouture]

As this global depression continues, I expect to see more such thing.

Sadly I agree.

 

[eternitygoddess]

YES.

July is saved.

I'd buy the entire collection if I had the means to do so.

 

[papa_levante]

nymag.com / The Cut

Christian Lacroix's fall 2009 couture show walks today in Paris. If a suitable investor doesn't emerge to rescue the company from bankruptcy — and a truly gut-wrenching liquidation plan — today's show could be its couture swan song. Letters of intent from potential buyers are being invited through the end of this month. Lacroix's CEO wouldn't reveal if any offers had come through or discuss the likelihood of accepting one. However, word is the bankruptcy filing has attracted "several potential suitors," according to WWD. If none work out, the house will retain only a handful of employees and be reduced to a licensing operation by the end of July.

But never mind all those ifs — the show is still going on today for a small audience of 200, thanks to suppliers who offered their services for free and funds from private donors. Though it was previously reported models would walk the show for free, WWD reminds us today that in France models must be paid (and free clothes don't count). Lacroix reportedly paid models out of his own pocket with help from his friends. If the house survives, production on fall 2009 couture orders won't begin until September. Speaking of those clothes:

For next autumn-winter, it will be "close-fitting silhouettes, sexy but gentle, with something going on at the back, bare shoulders under scarves which highlight them, black tone-on-tone embroidery... the classic repertory of the house, what is left, the hard disk."​

Badges that read "Christian Lacroix Forever" are being handed out at the show. We couldn't agree more.

 

[retailqueen]

There is a lenghty interview of him on the france 2 website ( it's in French). he had a meeting with his creditors and investors right after the show.

To stay alive, he needs to find an investor by the 23 rd of July.

 

[papa_levante]

Is finding an investor the same idea as when Eddie Bauer found a buyer? My friend's mother worked at an Eddie Bauer and said that they were no longer out of business because someone bought the company. Something about that.

 

[retailqueen]

He said in a interview he did not want a large company and if he survives he will seriously scale back to possibly one single boutique in Paris s.

He also likes the idea of cosmetics and Jewellery that he easily associates with Lacroix.

Finally he regrets expanding and going to large too soon and at the end of the day Lacroix is a couture house and even if he isn't able to do shows in the future, he'll still send out sketches, or even use left over materials from the atelier to male something

 

[maimon]

aaah hes just soo cute

 

[Leeroi]

It will be a sad day for fashion if Lacroix's house completely fails.

I think the question about his low marketability being the primary cause of the bankruptcy is void here because McQueen also has issues with selling his "clothes". Givenchy and Balenciaga at times also have this problem. Prices should not be an issue either since Akris, one of the most high-priced designer brands are not even considering downsizing, quality wise or quantity wise, and they are not finding themselves "bankrupt". Back in the 90's, Lacroix had an influx of sales and his popularity grew rapidly even though he was designing the way he wanted to.

I think his investors failed him. The investors themselves probably lost much income from other investments so they took it upon themselves to root him out of their business.

It's dangerous times, so it wouldn't be outrageous if he actually downsized to one boutique in Paris. Many "couture" houses these days only have a few boutiques in Paris anyways, or even just one, so they can concentrate on making the best possible quality clothing without having to worry about how they can afford to pay for rent in other countries.

 

[KbyKristina]

Noooooooooooooooooooooooooooooooooooo.

 

[mikeijames]

It will be a sad day for fashion if Lacroix's house completely fails.

I think the question about his low marketability being the primary cause of the bankruptcy is void here because McQueen also has issues with selling his "clothes". Givenchy and Balenciaga at times also have this problem.

one thing overlooked remains the cash cow that must have shoes and bags have played for houses like balenciaga. i mean, you sell ten thousand units at a thousand dollars a pop and you have ten million dollars in cash flow. also, givenchy and mcqueen both have fragrance and mcqueen has gone down market to sustain himself a little longer.

Prices should not be an issue either since Akris, one of the most high-priced designer brands are not even considering downsizing, quality wise or quantity wise, and they are not finding themselves "bankrupt".

also, akris, like balenciaga, and to a lesser degree mcqueen, have clientels that will follow them no matter what they may produce. also, these brands in varying degrees dress a working woman -- albeit a very wealthy working woman.

Back in the 90's, Lacroix had an influx of sales and his popularity grew rapidly even though he was designing the way he wanted to.

I think his investors failed him....

honestly, they did fail him by not forcing the house to diversify its revenue streams when they agreed to invest. i mean if we can brainstorm any number of profitable ventures, why couldn't they?

 

[Leeroi]

Doesn't Lacroix too have clients that will follow him no matter what? He is one of the most talented designers in the world right now, or even in the history of fashion, and probably more well known than Balenciaga or Akris.

I do agree about the more profitable ventures. His attempt to sell more fragrances would have been great, but he sold the rights to Avon, and his clients most likely did not fancy "Avon".