Good news for Christian Lacroix! The financially troubled couture house, which went bankrupt and nearly busted before the July couture shows, has a new investor who's closing in on a deal. After Italy's Borletti Group backed out of a buyout, an Ajman sheikh, Hassan bin Ali al Nuaimi, has come to the forefront of potential buyers. Sources say the potential deal is "overall very satisfactory", so hopefully this means Lacroix can start making a profit - after not doing so for its 22 years of business.
Al-Nuaimi, the nephew of a ruler of the United Arab Emirates' Ajman, reportedly would fork over 70 million euros to allow the couture house to keep its staff and then form a new business plan. Borletti intends to help the deal go through, since bids from France's Bernard Krief Consulting and Financiere Saint-Germain didn't go anywhere.
All we say: We hope this is wrapped up by the next round of couture shows.