The global financial crisis has claimed its latest fashion victim: Couturier Christian Lacroix:
In a New York Times/International Herald Tribune articles Suzy Menkes writes, “Despite years of critical success, the company failed to break even, let alone turn a profit….The loss of Christian Lacroix to Paris haute couture is immeasurable. Although the designer hopes to hold a small presentation during the July couture season, this was the last house established under the formal couture rules. Even a restructuring would likely have severe implications on his 125-member staff.”
Wow is any fashion house thriving in this recession? I honestly wonder how Sean Jean and Baby Phat are doing…I know they’re not haute couture (duh), but it’d be interesting to see how celebrity fueled ‘street’ brands are faring vs. haute couture.
If you like, read more about Christian Lacroix here.