Lady LUX

It’s official LUXies, the economic condition has taken its toll on the Fashion industry across the globe is evident once again with the French design house, Christian Lacroix, filing for bankruptcy as of late last week.

It seems the label filed for voluntary protection from current creditors looking for payment and that they even owe their own high-end fashion designer, Christian Lacroix. Lacroix is set up as an independent contractor, paid per design and is not a salaried employee. He has been designing without compensation for several months now.

The legendary designer revealed in a statement to his 125 employees that he is ‘not ashamed” to admit he is owed money, but assured them that he intends to give ‘200 percent’ to keep the label afloat and secure. –Vogue UK

Christian Lacroix was established in 1987-1988 and just recently celebrated its 20th anniversary. Known for his ‘theatrical style’ his collections often were infused with color and creativity! Rumors have it that last year, they had to report over a €10 million loss, which took quite a toll on the success of the company.

Insiders say that they are still hoping for this ‘ready-to-wear and couture line’ to recover. The aim is to secure a strong buyer for the brand in order to carry on as business as usual.

The good news is that we haven’t seen the last of this French Design House—Christian Lacroix has confirmed that they will be present at this year’s up and coming ‘Couture Week’ show in July!!

We here at LadyLUX will be sure to keep you up to date on the upcoming ‘Couture Week’ and our hope is that Christian Lacroix can successfully mediate this financial challenge as he does the runway!

Tagged in: fashion, bankruptcy, chapter 11, economic hardship, christian lacroix, couture week, french designer,

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