Christian Lacroix is not exactly one of my favourite designers. His style is a bit too…. colorful for me. Nevertheless, it is one of the last Paris haute couture houses established under the formal couture rules. It represents a generation of glamour and exquisite craftsmanship in fashion not seen these days. So it is rather sad to hear that they filed for bankruptcy today.
Though I cannot say I’m surprised. His collection is not always the most easy to wear and I’m sure that business from their haute couture clientele is not as it used to be. Besides, we all know that the real money in fashion is in the more commercial, lower price point products like perfumes and accessories. And from what I can tell as a fellow mass market consumer, they haven’t been very successful in their foray into the commercial market- if indeed there had been any.
While there is going to be change though, this doesn’t mean the end. They’re still hoping to do a small presentation in the July couture season. An expensive and completely unprofitably endeaver, but I’m sure that it is at least 1/3 of the way done anyway- so they might as well finish it. Though right now, the court still needs to decide whether to liquidate their assets or restructure it. For more details, check out the full article here.
The article also talked about how the luxury pyramid model for fashion is no longer viable and that the current strategy is more of a sunburst around a designer, a la Armani. I’m not sure that this is completely correct though. I still think there is still some kind of pyramid in the business model. Maybe the tip has been blunted a bit, but you still need to have the original Marc Jacobs line before you have the Marc by Marc Jacobs line for the younger crowd. And you still need Marc by Marc Jacobs to fuel the more wallet friendly Jacobs by Marc Jacobs line. Each collection down the product line serves a wider audience…. like a pyramid, no? Or does it all just revolve around Marc Jacobs?
Thoughts? I haven’t completely wrapped myself around this idea yet myself!
Tea with BG 
Valerie said:
Christian Lacroix is suffering from the economic crisis right now. He’s having trouble to sell 😦 So i have no idea if he will stay on top of this pyrammid you’re talking about!
Sarah said:
I definitely feel like Marc Jacobs definitely should have his signature line first. Just because he can’t really sell it to the average population, doesn’t mean he isn’t a well known designer by most. And because he’s “marc jacobs”, when he comes out with a line that is more accepted by the working class, they’ll go nuts for it! I think it’s a good way to sell his line to people not working in the fashion industry. 🙂
E said:
That is sad :-\ He is actually one of my favourite designers. I think he is one of the few designers that translates his passion for the creative, craft and art into his clothes. I can never get enough it’s enthralling and inspiring.
AH RECESSION.
Pink Sun Drops said:
Your blog title makes me want to have tea!! With you!!
MonsteRawr said:
Though I will never in a million years be able to afford anything like Lacroix, it’s sad to see the last of the greats fall. I hope they’re able to make it out and live to design another day.
roxy said:
OMG! that is crazy! he is one of the top fashion designers… i hope this doesn’t spread to other talented designers..
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