During a recession, most of us try and save a few pennies, and the fashion world is generally lending us a helping hand, with Rodarte and Jean Paul Gautier creating a line for Target (America’s answer to Primark) and many designers turning their hands to high street collections including Jimmy Choo at H&M and +J for Uniqlo by Jil Sander. But not Christian Lacroix, it would seem, who is taking the idea of luxury to a whole new level of extravagance. Or at least that’s the plan if potential new owner Hassan bin Ali al-Nuaimi has his way. The investor, a nephew of the ruler of Ajman, part of the United Arab Emirates, is set to fork out a whopping $70 million (that’s £42.5 million to us Brits) to become the major shareholder in Lacroix, with the final decision resting in the hands of a French court. That’s good news for Lacroix who have been suffering financially after filing for bankruptcy in May. And as Hassan has some serious funds to invest in the company, the sky’s the limit for the brand.
'The idea is not to focus on fashion by itself,' says Hassan. 'We are discussing different activities in leisure…private jets, hotels, high-quality yachts, palaces, and interior decoration. We will focus on very exclusive areas and don't want to sell his name cheap in the market.' Blimey, the idea of a Christian Lacroix palace seems a tad OTT, non? Still, just imagine how amazing those yacht sails would be… [