Design house Christian Lacroix reportedly filed for bankruptcy last friday.There by becomming the first victim, in haute couture, of the credit crisis.In a statement to Vogue magazine the design house stated that" it seeks to protect itself from a onslaught of creditors"
US group Falics, owner of the brand since it bought the brand from the LVMH conglomerate in 2005 was rumoured to be in negotiacions of selling the house to a swiss buyer last year
Lacroix is famous for his extravagant yet very wearable designs for women. Yet his name became known among the greater public through the hilarious tv-comedy "Absolutely Fabulous ".Eddy and Patsy . the main characters and "fashion victims",repeatedly revered to the designer in the quote"it s not a dress darling, it s a LaCroix"
Insiders in the fashion industry fear other design houses also are affected badly by the crisis and could follow the same path the Lacroix house has gone
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