Time to check in on Christian Lacroix! This week, the designer submitted a joint bid for his bankrupt company with Italy's Borletti Group. The French Industry Minister invited him to a meeting yesterday and Lacroix described their conversation as "extremely positive." If the bid goes through, Lacroix would become a shareholder in the company. Also, the house's couture and licensing businesses would remain open while a new ready-to-wear line is developed. The plan could also include the launch of a new fragrance.
Courts won't rule on the bids until September. But the company's rescue is sounding increasingly likely. Lacroix also noted the support of "people in the street." The government, which regards Lacroix's brand as a symbol of France, also wants to see the label flourish. France is so wonderful sometimes.