It’s Lacroix, sweetie! Those three little words, made famous by fashion-mad Edina Monsoon on the British sitcom Absolutely Fabulous, are ones you may soon start hearing again. That’s because the Spanish company Sociedad Textil Lonia, or STL, has reached an agreement to acquire 100 per cent of Christian Lacroix, the French fashion house synonymous with 1980s exuberance, in what the company is describing as “a private transaction”.
The Christian Lacroix brand had been previously owned by the Falic Group, also owners of US retail group Duty Free Americas. Details of the deal were not shared. Asked about the acquisition, in a company statement, STL pointed to “a strong connection between our creation philosophy and craft”. At STL “we admired the vision, the magic and the craftsmanship of Maison Lacroix, so when the opportunity arose we eagerly embraced it. We will do everything we can to ensure that the unique talent of its creator and his invaluable contribution to the fashion world reach their full potential”. Lacroix himself, who at 73 now designs costumes for the opera, has given the sale his blessing. “The Spanish family that owns STL had the elegance to contact me ahead of the official announcement about the acquisition of the Christian Lacroix name and archives. We will probably meet soon in an informal way,” the designer told Vogue Business. Lacroix made his name at Patou, the Paris maison founded by Jean Patou in 1912, famous for its Joy perfume. In 1987, with investment from LVMH chairman and CEO Bernard Arnault, he set out on his own, crafting the go-go look of the era so definitively with his pouf skirts, embroidered jackets and colourful ballgowns, that he landed on the cover of Time in 1988. But fashions changed as the ’80s became the ’90s and the noughties. In 2005, LVMH sold the Lacroix label to Falic, and four years later the company went through a restructuring to enhance its operational efficiency and ensure long-term stabilit