FASHION NEWS


No firm buyer seen for Christian Lacroix fashion house

PARIS — The outlook for beleaguered French couture house Christian Lacroix looked bleak at the weekend after potential buyers let a deadline pass to deposit cheques ahead of Tuesday’s bankruptcy court hearing.The plan envisages shedding almost all the jobs, winding up the couture and ready-to-wear business and paying off the house’s creditors with its licensing deals.
Only 11 employees will be kept on to administer the house’s accessory and perfume licenses.If the house is able to resume its ready-to-wear or couture activities within a year, its employees would under French law enjoy priority on getting their old jobs back.

 

Burberry targets India’s brand-aware middle class


Burberry, the British luxury brand, is poised to enter a joint venture to expand its presence in India, a market in which the ultra-rich are thriving because of a soaring stock market.
Burberry, the British luxury brand, is poised to enter a joint venture to expand its presence in India, a market in which the ultra-rich are thriving because of a soaring stock market.

The 153-year-old company, best-known for its signature trench coats, plans to tie up with Genesis Colors, the Indian fashion retailer, and has applied for government clearance.

Burberry hopes to repeat in the sub-continent its success in China, where it operates 44 stores and is enjoying double-digit percentage revenue growth. Angela Ahrendts, Burberry’s chief executive, said: “Obviously, India is on a different curve, we only have about two stores there now, but I see the same growth potential.”

The company runs its two Indian stores through a franchisee arrangement with Media Star, an Indian group. That arrangement is set to be dissolved when the new joint venture is established.

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