Christian Lacroix Fall Couture 2009

PARIS — Workers at Christian Lacroix, which is in administration, breathed a sigh of relief Thursday as an Ajman sheikh tabled a formal offer to purchase the troubled couture house.

The offer from Al Hassan Bin Ali Al Nuaimi, in cooperation with the couturier, must still meet the approval of the commercial court here. However, the Paris administrator told Agence France Press it is “likely” to meet approval because it would preserve jobs and pay third-party debts. A date for a hearing has yet to be fixed, but is expected around Oct. 20. It is understood Bernard Krief Consulting and Financière Saint-Germain also have submitted bids.

If the sheikh’s offer prevails, it would see ownership pass from Florida’s Falic Group to a nephew of the ruling emir of Ajman, the smallest of the seven emirates comprising the United Arab Emirates.

According to sources, the sheikh is involved in a variety of business, including finance, real estate, resort development and yachting.

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