LVMH Drops Christian Lacroix

LVMH has sold the Christian Lacroix brand, reportedly because of lack of profits, to the U.S.-based Falic Group. The move is part of a plan by LVMH CEO Bernard Arnault to refocus on the company’s core brands, including Fendi leather goods, by eliminating others. Falic Group bought two of LVMH’s cosmetic brands, Hard Candy and Urban Decay, two years ago.