It came as a great shock to many, then, when word was out that the venerable house of Christian Lacroix filed for bankruptcy, and now, is effectively dead. The fashion house has really always been in financial trouble. From its beginnings in 1987, it has never turned a profit. In 2005, LVMH (Moet Hennessey Louis Vuitton), the world's leading luxury goods owner and an astute business operation, sold the house to US duty free giant Falic so as to pass off a consistent underperformer. In 2008, the label reported a €10 million loss. When hit by the global financial crisis in 2009, the house had to lay off all but 12 workers. Lacroix's A/W 2009 Haute Couture show would not have happened if it had not been privately financed by Lacroix himself, along with the generosity of many unpaid workers and models who were paid €50 each (the minimum wage according to law). It was an emotional show. Tears flowed and respects were paid. There was hope, however, that all was not lost: potential buyers were lined up to rescue the house from foreclosure.
It seems now, however, that Christian Lacroix may have taken his final bow. Despite interest from several bidders, including the favourite Sheikh Hassan bin Ali al-Naimi, financing could not be guaranteed for the expected rescue package. Today, with no saviour in sight, the Paris commercial court approved a plan that effectively spells out the death of the fashion house. The restructuring involves the closure of the celebrated haute couture and ready-to-wear lines, with the revered name of Christian Lacroix now limited to licensing deals for perfumes and accessories. The 'turnaround' plan, as it's being called by the owners, is hoped to dig the label out of its debts, which is estimated at €44 million. Yet, for all intents and purposes, there is little doubt that today is the sad end of the Lacroix fantasy.
For outsiders looking in, it may seem surprising that designers with overpriced clothing could ever turn losses, let alone file for bankruptcy. Yet, Christian Lacroix's story illustrates the uglier, grittier side of fashion. For all the praises, applause and standing ovations given onto him season after season, the house was finally brought down by the grim financial reality that fashion must, after all, be a viable business operation.
Lacroix was a designer of great artistic vision. Even by the decadent standards of haute couture, his collections were opulent, always featuring outlandish, over-the-top colours and shapes. He was the darling of the fashion world, and the press hailed him as the new star of couture. So everyone overlooked the fact that not many people were actually buying his clothes. After all, Lacroix liked to design extravagant pieces with no expenses spared, and didn't really care that they would not be worn. Sunday Times fashion editor Colin McDowell in 1994 commented that his clothes were "something to gape at rather than buy" - a problem that would later land the house in bankruptcy.
Sadly, the glamorous journey of one of fashion's greatest talents ends due to poor business management. So what does this mean for the future of couture? Couture is increasingly being seen as a relic of the past when aristocrat ladies used to custom order one-of-a-kind gowns. Nowadays, couture has really become an expensive extravanganza put on for the sole purpose of exhibiting beauty and art. Couture craftsmanship, material and design are impeccable and second to none, but it has become impractical in modern times to wear over-the-top dresses or pay the hundred thousand dollars needed for the 'average' gown. The fashion needs of modern generations are answered by the ready-to-wear lines: the designs may be from the designers themselves or assistant designers, the clothes are mass-produced in various sizes, there is no custom fitting, and craftsmanship and materials used are of lower quality due to the lower price points. In large design houses like Dior and Chanel, profit mainly comes from beauty lines, accessories, and ready-to-wear. I suppose the only business incentive for designers to keep putting out couture collections is the tradition and prestige of being known as a couture house, and the marketing benefits that come from it. Designers never recoup the money from their couture lines, because only a handful of women around the world actually buy it. Sadly, all this points to a future where haute couture, the only pure expression of art in fashion, has finally had its last day. Is the fall of Christian Lacroix the start of the end of couture?
Autumn/Winter 2009 Couture
Photos courtesy of Style.com
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