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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Asia Pacific World Emirati sheikh emerges as top Lacroix suitor AFP - Thursday, October 1 Send IM Story Print French designer Christian Lacroix ackowledges the audience at the finale of his 2009/2010 Autumn-Winter Haute Couture collection show in July 2009, in Paris. The ruling family of the Arab Emirate of Ajman is favourite to take over Christian Lacroix after Italian retailer Borletti withdrew its offer, the fashion house's administrator said on Wednesday. PARIS (AFP) - – The ruling family of the Arab Emirate of Ajman is favourite to take over Christian Lacroix after Italian retailer Borletti withdrew its offer, the fashion house's administrator said on Wednesday. Sheikh Hassan Ben Ali al-Naimi, a nephew and business associate of the Emir of the smallest of the seven emirates, was due to put in an offer which is "entirely satisfactory" later Wednesday, Regis Valliot told AFP. The offer for the loss-making fashion house will be "formalised" within 48 hours and will involve keeping on both the ready-to-wear and haute couture businesses and retaining the 104 remaining staff, he said. "It is the fantastic solution we dared not hope for," said Vaillot, who was appointed when the house was put under administration in June after filing for bankruptcy protection. 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. Valliot also said on Wednesday that Bernard Krief Consulting, which has also made an offer for the fashion house, "is still there for the ready-to-wear business," but did not elaborate. But the Borletti Group, which bought up French fashion retailers Printemps in 2006 on top of existing operations in Italy and Germany, "is withdrawing," he said, adding that this was not connected to the sheikh's bid. Christian Lacroix, whose show was always one of the hottest tickets in Paris fashion week, will be conspicuous by his absence from the round of ready-to-wear collections for next summer starting Wednesday. The couture house has failed to stage a catwalk presentation in Paris only twice since it was founded in 1987. Recommend Send IM Story Print Related Articles Gatti subbing for Levine at Carnegie gala concert AP - Thursday, October 1 'Hills' star Patridge gets restraining order AP - Thursday, October 1 Umberto Eco takes shopping list to the Louvre AFP - Thursday, October 1 Author Chinua Achebe puts pen to page after 20 years Reuters - Thursday, October 1 Miss Singapore World resigns after lingerie fraud Reuters - Thursday, October 1 News Search Top Stories GDP revision shows recession winding down UN demands end of sexual violence as tactic of war German unemployment falls Fresh violence in Guinea after stadium bloodbath France Telecom boss under fire over staff suicides More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended France Telecom boss under fire over staff suicides Fresh violence in Guinea after stadium bloodbath Xerox to buy ACS for $6.4 bln Film world backs Polanski as he fights Swiss arrest Britain on course to exit deep recession More Most Viewed » Ozone hole smaller in 2009 than 2008: WMO Nanoparticles could pose threat to humans: scientists Remains of Jesus-era synagogue found in Israel Implanted tooth helps blind US woman recover sight More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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