Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Gulf investor emerges as top suitor for Christian Lacroix

Borletti, the Italian investment group, has stated that it will not make a firm offer for luxury retailer Christian Lacroix, paving the way for a bid from a Gulf investor.

After investigating the proposal for three months, Italian businessman Maurizio Borletti said “the conditions for confirming this takeover were not brought together”.

An earlier offer from Gulf investor Hassan bin Ali al-Nuaimi can now be considered. Lacroix’s administrators previously stated the offer from Al-Nuaimi, the nephew of the ruler of Ajman, to be “very satisfactory”.

Al-Nuaimi’s offer is thought to be a €70m (£63.9m) capital injection into Christian Lacroix, which was one part of French luxury group LVMH but is now owned by the Falic family. The French fashion house has not made a profit in 22 years of trading, and recorded a loss of €10m (£9.1m) on revenues of €30m (£27.4m) in 2008.

Rival offers for Christian Lacroix could come from France’s Bernard Krief Consulting (BKC) and the Financiere Saint-Germain holding company which owns the Daum and Lalique crystalware firms.



Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.