Soup's On

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Thursday, June 18, 2009

Lacroix Goes for Broke

Tongues have been wagging for some time about the fate of Christian Lacroix. There was the story of an "in the works" deal with Swiss buyers being tossed around. Surely wagging tongues went into overdrive when the fashion house showed their fall 2009 line in a Paris parking lot! Something clearly is just not right! Well, they were right to be suspicious. Recently, the French fashion house announced that it is filing Chapter 11 bankruptcy. Word on the runway is the fashion house never turned a profit and just last year lost about 14 million dollars. These are not good signs, people. It seemed they would be on the rebound when they were sold from Louis Vuitton Moet Hennessy to the Falic Group in 2005. But then that global recession hit and any chances of coming back from the brink all but vanished. The owners of Christian Lacroix say they are not going to give up on the troubles fashion house, even in this dire state of affairs. I guess we'll just have to wait and see what happens. Let's hope another parking lot production is not in their future.

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