Haute Couture vs. The Real World

“Lacroix, Sweetie, Lacroix” – cried Eddy, from a British cult series Absolutely Fabulous, about immature, chain-smoking, alcoholic, prosperous but preposterous substance-abusing fashion and fad-obsessed Londoner, who valued style over substance in her search of fame and recognition.

She loved Lacroix and would be sincerely devastated at learning the news that a label like this could fail. After making a $15m loss in 2008, the company had to begin insolvency proceedings in May this year and might close anytime now. But not before delivering one of the best, but perhaps last shows ever.

Squeezed for cash with the help of friends and supporters, Mr Lacroix delivered impressive results – wearable clothes in limited number of colours, a far cry from his usual baroque fantasies, but much closer to the real world.

Lacroix fashion house felt pressure from the real world even since its inception back in 1987 inside of LVMH luxury goods group. The company has been loss making and many projects to produce perfumes and accessories never took off the ground. In 2005 LVMH had to get rid of it and sold it for a nominal sum to owner of Duty Free Americas retail chain – the Falic Group.

Once inside the new group, Mr Lacroix led the reinvention, which proved to be disastrous. Two of company’s profitable, but cheaper, lines – Jeans and Bazar, where closed. The brand was brought even more upmarket and prices for ready-to-wear clothes raised. He wanted to develop accessories, but it never happened. When the recession started it has left the company particularly vulnerable with department stores in the US sharply reducing their orders.

The Future Looks Bright

The reaction to his last show was positive with nearly all 24 looks getting big round of applause, and a group of loyal fans unfolding a banner reading: “Christian Lacroix forever” as the designer took a final lap around the catwalk.

In his backstage interview Lacroix said: “I can’t think this is the end. It’s the beginning of something, I hope.” We will be watching with anticipation to see if Mr Lacroix will be able to reinvent himself and prove to be able to be commercially successful.