One of the biggest Parisian fashion houses filed for bankruptcy this week--Christian Lacroix. Famous for its outlandish and opulent designs, the twenty year-old line's financial difficulties shocked both the fashion and finance industry. In a letter to his 125 person staff, designer Lacroix states:"I don't know what tomorrow will be made of, if indeed there is a tomorrow, but I will do everything to ensure we remain a couture house 200 percent, and to safeguard a know how without which the lungs and heart of this house would not exist."
Back in 2005, LVMH bought out the luxury giant in hopes to build on its fashion empire. However, sales for Lacroix have not met expectations and this week the company decided to declare the line insolvent.
Hopefully, Lacroix can keep his promise to his employees. It's nice to know that among many of the luxury designers who are so quick to fall into the branding trap, he has remained somewhat of a purist and true to his passion for fabulous couture and ready-to-wear.
1 comment:
crazy!
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