French Brand Christian Lacroix Is ​​About to Be Acquired by Spain Brand

The Spanish fashion group Sociedad Textil Lonia (STL) announced on January 7 that it has reached an agreement to acquire the French brand Christian Lacroix, hoping to restore the once-powerful brand to its former glory.

STL said the deal to acquire Lacroix from the US duty-free retail group Falic was a "private transaction" and the transaction amount was not disclosed.

STL said in a press release: "By acquiring Maison Lacroix, which has a rich archive and French haute couture history, STL expands its brand portfolio and strengthens its international presence in the field of haute couture."

The group added: "We will do everything we can to ensure that the unique talent of its creator and his valuable contribution to the fashion world are fully utilized."

Founded in 1997 and headquartered in Spain, STL is the fashion company behind the Spanish ready-to-wear brand Purificacion Garcia and the Venezuelan-American designer Carolina Herrera brand. The company has 2,500 employees and 600 stores worldwide. Luxury cosmetics and perfume group Puig owns 25% of STL.