Lacroix joins Borletti to bid for own fashion house

Mon Jul 27, 2009 11:51am EDT
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By Pascale Denis and Astrid Wendlandt

PARIS (Reuters) - The administrator for cash-strapped fashion house Christian Lacroix called "serious" a joint bid by the designer himself and Italy's Borletti and Milan's La Rinascente department stores.

A rival offer by turnround firm Bernard Krief Consulting (BKC) was "insufficient," the couture company's administrator said on Monday. Two other bids were too low to be considered.

The Christian Lacroix company, which was once part of French luxury giant LVMH, now belongs to the Falic family, owners of U.S. retail group Duty Free Americas.

Borletti is the owner of France's Printemps stores.

"Several offers have been made," Regis Valliot, the court-appointed administrator told Reuters. "One of them coming from the Italian Borletti with Rinascente, and associated with the designer Christian Lacroix himself, is deemed serious."

Earlier on Monday, BKC said it had bid a "symbolic sum" for Christian Lacroix, a fashion house it considers part of France's cultural heritage.

KBC was contacted by Patrick Devedjian, France's minister in charge of the national fiscal recovery plan, to save the lossmaking couture business, which has been in administration for nearly two months.

The matter was also discussed by France's new culture minister Frederic Mitterand, nephew of the late socialist French president.   Continued...

<p>A model presents a creation from the Christian Lacroix Spring/Summer 2009 Haute Couture collection at the Audi Fashion Festival in Singapore May 6, 2009. REUTERS/Vivek Prakash</p>