FRANCE/US. LVMH Moet Hennessy-Louis Vuitton has finalised the sale of its Christian Lacroix fashion house to the Falic Group, owner of Duty Free Americas.
The Falic Group confirmed to The Moodie Report earlier this month that it was in advanced talks to purchase the mercurial designer’s fashion brand from LVMH. Jerome Falic, who is CEO of Duty Free Americas, told us at the time: “It fits within our business strategy of owning and distributing the world’s best-known brands.”
This evening LVMH issued a statement saying: “The Falic Group offer, which has been accepted by LVMH, relates to all of the Lacroix company activities, including the haute couture and the ready-to-wear businesses. This transaction is consistent with LVMH’s stated strategy of focusing on those leading brands with the highest growth potential. Bernard Arnault, the President of LVMH, hopes that Christian Lacroix’s great talent continues to show itself in its original and creative manner.”
With exquisite timing, Lacroix showed his new collection yesterday – and apparently it was a smash hit. One fashion writer waxed lyrically: “Yesterday’s show was a triumph, showcasing Lacroix’s genius with colour. Yellow, burnt orange and cerise floral chiffon was teamed with teal-turquoise satin ribbon. A lemon cropped crepe Spencer jacket was worn over a paprika georgette dress with a pale pistachio petticoat – and it worked. The show ended with a standing ovation.” Today the Falic family will be leading the applause.
LVMH also sold its US cosmetics businesses Hard Candy and Urban Decay to the Falic family in 2003. Christian Lacroix, named after the French designer, was founded during the 1980s but is reported to have never made a profit. Besides its fashion range, Christian Lacroix has an established licensed fragrance deal with InterParfums, the beauty house which also has the Burberry, Paul Smith, ST Dupont and Celine fragrances business.
MORE ON THE CHRISTIAN LACROIX ACQUISITION
Falic Group confirms Christian Lacroix negotiations – 08/01/05
