The Christian Lacroix Brand Acquired By The Spanish Group STL

It's a time of change for Christian Lacroix, founded in 1987 by the eponymous designer from Arles. Famous for its rich, baroque style often inspired by Provençal motifs, 18th and 19th-century theatre costumes, or the Camargue world with its traditions of bullfighting and gypsy icons, the brand is changing hands to the Spanish group Sociedad Textile Lonia (STL), which has just bought it.

The amount of the financial transaction has not been disclosed. In a press release, the Spanish company expressed its satisfaction with the purchase, which completes its high-end portfolio, and its intention to revive the glory years of the French brand: ‘With the acquisition of Maison Lacroix, with its archives and rich history (...), STL expands its portfolio of brands and strengthens its international presence in the world of haute couture. We will do everything in our power to ensure that the unique talent of its creator and his invaluable contribution to the world of fashion regain their potential’.

Bernard Arnault has supported Christian Lacroix since the company was founded in 1987, via Financière Agache. After a flamboyant first few years, the brand's sales began to dip in the early 2000s. In 2005, the head of LVMH sold the fashion house to Falic Fashion Group, a subsidiary of Duty-Free America, for an undisclosed sum. However, this operation did not enable the French fashion house to recover effectively. Difficulties continued to affect the brand's financial health, with a 35% fall in sales and a loss of €10 million in 2008, leading to a recovery plan in 2009 and the loss of around a hundred jobs.

At the same time, Christian Lacroix lost its haute couture label. The house, which was banking heavily on the American and Middle Eastern markets, both of which have been affected by economic instability in recent years, suffered the same setbacks as Alessandro Michele's latest Gucci collections. His ‘eccentric’ collections have often been judged as excessively flamboyant and not timeless enough.

That's why the Spanish group, which owns the Purificación García and CH Carolina Herrera brands, could prove to be a solid asset for the house's international relaunch. With six hundred shops in 43 countries around the world, the Iberian colossus has 2,500 employees and recorded sales of 429.8 million euros in its last financial year, which ended on 28 February 2024.