SUMMARY: Christian Lacroix, famed Parisian designer of haute couture, has seen change. Eleven chief executive officers could not manage Lacroix’s creativity to a profit. After 22 years in the fashion industry, Lacroix’s future is in doubt. His company, part of the Moet Hennessy Louis Vuitton S.A. conglomerate, filed for bankruptcy protection in May. Whether a buyer will emerge or not, one thing is certain – the “business as usual” mentality must go.
- How well did LVMH (Moet Hennessy Louis Vuitton S.A.) handle the strategic management of Christian Lacroix?
- Identify the grand or master strategy employed by Christian Lacroix. How might this be a problem in the fashion industry?
- Assume the company will emerge from bankruptcy. What strategic changes would you make if you were running this company? Why?
SOURCE: M. Colchester, “The Fall of Christian Lacroix,” Wall Street Journal (Retrieval online at http://online.wsj.com/article/SB10001424052970204619004574318400611353392.html)