FRANCE: LVMH Sells Christian Lacroix To US Falic Group
Leading luxury goods group LVMH Moet Hennessy Louis Vuitton SA has sold its Christian Lacroix designer clothing label to US retail company Falic Group for an unspecified sum.
The acquisition by duty-free stores operator Falic includes all of loss-making Lacroix's activities such as its haute couture and ready-to-wear divisions.
The move - which was hinted at earlier this month by French media reports - is part of LVMH's ongoing decision to sell off unprofitable and non-core businesses in order to concentrate on brands such as Louis Vuitton.
"This transaction is consistent with LVMH's stated strategy of focusing on those leading brands with the highest growth potential," LVMH said in a statement.
LVMH's president, Bernard Arnault, said he hoped that designer Christian Lacroix, who is expected to stay with the label that he helped establish in 1987, will continue to show his talent in an "original and creative" manner.
The Falic Group, which has annual sales of $620 million, plans to expand Lacroix by opening new store locations.
It's not easy being green, but garment manufacturers are taking small steps towards offering eco-friendly apparel. Driven by consumer concerns about health and the environment, eco-friendly fabrics an...
European polyester producer AdvanSA has introduced Coolmax into the women's ready-to-wear market....
Fibre giant Invista has spun off its electro-textile arm after securing investor financing....
French fashion designer Christian Lacroix has confirmed that he will remain at the label with the same name, drawing to a close ongoing speculation that he would quit after the business was bought by ...
Roberto Menichetti, artistic director of the Celine fashion label, is stepping down from his position....
Branded clothing company Jones Apparel Group Inc said it saw a better-than-expected first quarter, primarily due to a good performance of its wholesale business....
Ladies' wear chain Camaieu SA said turnover rose 13.1 per cent to €93.4 million during the first quarter of 2005....
Tom Ford and Domenico De Sole, who left Gucci last year after drastically turning around its fortunes, have launched a new luxury brand under designer Tom Ford's name....
- Why do modern robotics elude sportswear makers?
- Traditional financing is a misfit for fast fashion
- Trump trade policy – Who knows what he'll do?
- Planning is key to an effective inventory strategy
- Bagir CEO says suit-maker is back on track
- US Q3 in brief - G-III Apparel, Express
- Bagir exports first trousers for H&M from Ethiopia
- Film documents Cambodia garment workers' stories
- Esquel efficiency drive continues to boost brands
- Pakistan suspends India cotton imports
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016
- Footwear Top 5 Emerging Markets Industry Guide_2016
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack