Christian Lacroix Gets a Bailout

Those tears during the Paris couture Lacroix fashion show may have been in vain! Yesterday afternoon, French management-consulting firm, Bernard Krief Consulting, announced it would make an offer for the bankrupt Lacroix label on Monday, July 27, despite the fact that the house hasn't been profitable in its 22-year history. No word yet from Lacroix on the offer, but Louis Petiet, president of Bernard Krief, said he plans to increase Lacroix’s sales fivefold over the next five years—if the deal goes through.