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Wednesday, June 03, 2009
Christian Lacroix in administration
The French fashion house, Christian Lacroix, is officially under administration. The womenswear label reportedly lost €10 million (AU $17.4 million) last year, after suffering slow sales, due to the global financial crisis. After an application to the Parisian courts, the luxury label was granted a six month creditor protection. It is alleged, the company's move to focus only on the higher end of the market might have been costly. Let's hope they survive these turbulent times.