After Barcelona and Valencia, both opened 2011, Chopard expanded in Spain with its third ...
read more
American hotel chain, Thompson Hotels, known for its contemporary luxury hotels in the US, ...
read more
Despite the negative impact of a strong Franc, Swiss watch exports reached a record 16 billion ...
read more
Talking to The Economic Times, Mr PRS Oberoi confirmed his company tapped renowned American ...
read more
World's leading luxury group, LVMH announced record results for 2011, with salea reaching ...
read more
Italian luxury house of Loro Piana, known for its iconic cashmere ready to wear and accessories ...
read more
Emirati Sheikh to take over CHRISTIAN LACROIX
News 08 October 2009
United Arab Emirates Sheikh Hassan Ben Ali al-Naimi made a formal offer on Thursday to take over Christian Lacroix, four months after the French couture house filed for bankruptcy, the firm's administrator said.
The offer presented to a competition tribunal for approval was made "in partnership" with the designer, said a statement from the sheikh's lawyers.
The sheikh, who is close to the ruling family of the Ajman emirate, stepped in last month to take over the fashion house after Italian retailer Borletti withdrew its offer.
Acquired from the world's leading luxury giant LVMH in 2005 by US duty free giant Falic, the firm said it had been forced to declare insolvency due to the sharp downturn of the luxury market.