CHRISTIAN LACROIX: A KING WITHOUT A KINGDOM

This case chronicles the key stages in the development of the Christian Lacroix Company, the fashion house founded in 1987 by the eponymous designer with the financial backing of Bernard Arnault (LVMH). Lacroix's opulent creations wowed fashion editors and wealthy fashionistas the world over, and quickly came to embody haute couture at its most magnificent and extravagant. Despite years of critical acclaim, and a firm commitment to extend product lines and expand distribution, the company never turned a profit. In 2005, LVMH unceremoniously sold off the ailing maison to the Falic Group, a US-based retailer and duty-free operator. But in another ill-fated twist, the sudden onset of the global financial crisis and recession in 2008 hindered attempts to turn the company around. In May 2009, the house of Lacroix filed for bankruptcy protection, leaving a commercial court in Paris to decide whether to restructure or liquidate one of the most iconic and revered fashion houses in France