No firm buyer seen for Christian Lacroix fashion house (AFP) “The outlook for beleaguered French couture house Christian Lacroix looked bleak at the weekend after potential buyers let a deadline pass to deposit cheques ahead of Tuesday’s bankruptcy court hearing.” Upscale Retailers May Get Lift from High-Income Shoppers (USA Today) “The holiday shopping season may just prove a little merrier than expected.
One long-time designer is conspicuously absent from the Paris Fashion Week schedule for Spring/Summer 2010. Indeed, Christian Lacroix’s Haute Couture show in July (pictured above) was billed as possibly his last fashion show ever. But, while rumours continue to swirl of would-be white knight investors to save Lacroix — the latest is Hassan bin Ali al-Nuaimi, a nephew of the ruler of Ajman — BoF investigates the wider
Armani Names Group of Lieutenants But Succession Questions Linger (WSJ) “Giorgio Armani, after recovering from a months-long bout of hepatitis, slightly loosened his grip on his fashion empire Wednesday, naming one of his most-loyal executives as deputy chairman, as part of a management reorganization.” View the Armani S/S 10 runway video here. Sheikh’s position strengthens in Lacroix auction (FT) “The
Prada bankers contact Richemont on stake-paper (Reuters) “Bankers for Italy’s Prada fashion house have contacted Compagnie Financiere Richemont SA about the Swiss company taking a stake in it, la Repubblica newspaper said on Saturday. In an unsourced report, the Italian daily said the banks, including Intesa Sanpaolo SpA and UniCredit SpA, would like an industrial partner for Prada with a stake of up to 30.”
Bidding for Lacroix Fuels Hopes of Survival (WSJ) “Italy’s Borletti Group, an investment company that owns stakes in Europe’s La Rinascente and Le Printemps department stores, is one of four firms to have submitted bids for Christian Lacroix fashion house, raising hopes that the struggling French brand won’t be closed down.” LVMH 1H Net Pft -23% On Distributor Destocking (WSJ) “LVMH Moet Hennessy