By Edna Louise Harper
Photo by Thomas Devaux
September 8, 2009

London, UK – According to reports, a deal to rescue the insolvent Christian Lacroix haute couture house could be reached by the end of September. This is contingent upon whether or not the house’s American owner, the US based Falic Group, can work out some important details of the rescue plan with the Borletti Group of Italy.

Through his Borletti Group, businessman Maurizio Borletti is the principal shareholder in both the French department stores Printemps and the Italian Rinascente. This group’s bid to take over the house became more attractive when the house’s original founder, the grand couturier Christian Lacroix, joined with Borletti in a joint bid.

“We are all anxiously awaiting the news over the future fate of the house of Christian Lacroix”, stated Marcellous L. Jones, host of television’s Fashion Insider and editor-in-chief at TheFashionInsider.com Magazine.

“Along with Chanel, Hermès and perhaps Christian Dior, it represents the very best of the world’s image of French luxury… Christian Lacroix must find a way to survive. If it does not, it would prove to be a serious blow to French national pride and sense of prestige in the world of luxury in general and a devastating blow to the world of haute couture.”

Christian Lacroix was founded 22 years ago, and never seemed to find the right formula for pushing accessories, perfumes and other cosmetics that could have turned it into a profit making machine like its one-time counterparts Givenchy, Christian Dior, Kenzo, Louis Vuitton, etc. This proved unfortunate and then owner, the LVMH Group, unloaded it onto the hands of the Falic family.