Christian Lacroix’s in need of new financial backing.
Florida based Falic Group, who bought the house from LVMH in 2005 is said to be looking for someone to buy a majority stake in the company. In the past four years, they’ve opened two stores stateside and almost doubled the number of employees. Still, they’re not even close to making a profit.
The problem, according to the Wall Street Journal, is that no one wants to invest money in something that hasn’t been profitable in years. Especially these days.
We can’t imagine couture sales swinging upwards this season and it’ll be impossible for the brand to make a profit without opening more stores, which won’t happen without a major influx of cash.
Who’s making the Save Lacroix tees?