Bankruptcy: it's affecting everyone, even Christian Lacroix.
The French fashion house was loved by the characters in Absolutely Fabulous because of the extravagance exhibited by the Christian Lacroix image, but things are changing fast.
LaCroix is owned by the Falic Group and employs 125 people. The super luxury market has contracted just enough that it is putting the squeeze on haute couture houses that don’t have deep pockets. Major retailers like Neiman Marcus and Saks reduced future orders and sales for summerwear from Christian LaCroix by about 35%.
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Poor Economy Crunches Fashion Icon Christian LaCroix
Published: May 29, 2009 • References: business.timesonline