PARIS - CHRISTIAN Lacroix said on Thursday it has launched insolvency proceedings after the 22-year-old French fashion house fell victim to the global recession.
The high-fashion brand founded by French designer Christian Lacroix - known for colorful gowns that incorporate elements of French Southwestern style such as matador costumes or polka-dot prints and heavy brocade - told the Paris commercial court that it can't pay creditors.