French luxury group LVMH has sold the loss-making Christian Lacroix fashion house to the Falic Group, the second-largest US duty-free retailer, company officials announced. A representative for the Falic brothers, Nicolas Topiol, said the group hoped that Lacroix would stay on at the company that bears his name, telling AFP: “We’re not in a rush. He needs some time to get to know us.”
The sale of the label was finalized on Monday, officials from both sides said. The amount of the transaction was not revealed. Lacroix told reporters after the presentation of his spring-summer 2005 haute couture collection, where the sale was made public, that his role within the house would not change.