Vowing to rapidly develop the acclaimed couturier's business, the new owners already have signed a lease for a boutique at The Forum Shops in Las Vegas and are zeroing in on space for a New York flagship and a new showroom.
In an interview with WWD Thursday, Simon Falic, the new owner and director of Lacroix and chairman of Florida-based travel retail firm Falic Group, also revealed plans to roll out Lacroix corners to about 20 of its Duty Free Americas locations. In addition, an expanded range of handbags and small leather goods will be unveiled to the trade in the coming weeks, the first volley in a big accessories push.
Falic called Lacroix's potential "tremendous" and said his family bought Lacroix from LVMH Moët Hennessy Louis Vuitton at an opportune moment, for the house was showing strong momentum.
"We think it's very well positioned. So much money has been invested in this brand, and Mr. Lacroix is such a highly regarded talent in the fashion industry," he said. "I honestly believe we can double the sales volume in five years, maybe sooner."
The forthcoming U.S. openings underline that America is a priority, with the Las Vegas unit spanning 1,500 square feet and boasting 30 feet of frontage, slated to open as early as yearend. Falic recently signed on Miami firm Pavlik to work on a new design concept.
"We want to bring the strength we have to the business, which is retail development," he said. Still, the wholesale channel also is considered a key priority, and Jerome Falic, also a director at Lacroix, has plans to meet with key partners such as Neiman Marcus and Nordstrom.
America represents about 10 percent of the Lacroix business, and Falic said that ratio should quickly grow to 30 to 35 percent. South America represents the next important frontier for the brand.
The Falics declined to give figures, but said Europe represents the biggest market for Lacroix, followed by Japan.
Ready-to-wear will remain the cornerstone of the business — the signature line and the jeans collection — but the secondary line, Bazaar, is under review and may be phased out, Falic said.Otherwise, it's largely business as usual at the Paris-based fashion house. As reported, the designer, 54, recently signed a five-year contract that assured the future of his couture collection.
Indeed, Falic said he increased the budget for Thursday's couture show, recognizing that high fashion reinforces the brand's image and generates major international press.
"Right now, the [couture] category is so limited," Falic said. "That means Lacroix gets a lot of exposure and it's positioning with the best brands in France ... Overall, the haute couture business is performing better than what we had budgeted and projected."
Falic declined to quantify Falic Group's investments in Lacroix, but said the lion's share would go into Lacroix's retail push, and also product development in accessories and rtw. Still, Falic said the brand would rapidly reach profitability, possibly even this year. LVMH, which endured steep losses since founding a couture house for Lacroix in 1987, off-loaded the brand for a symbolic amount in January as the luxury group streamlines its portfolio.
Falic confirmed Lacroix would maintain Inter Parfums as its perfume licensee, which is launching the women's scent, Tumulte, in stores in September.
Meanwhile, the family, which also bought Urban Decay and Hard Candy from LVMH in 2002, ruled out further acquisitions.
"We're going to focus on this," he said of Lacroix. "It's a big undertaking and we're going to focus on doing it right."
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)