The circle of life runs round again, and while on one hand we’re excited by all of fashion’s new kids on the block, we’re also sad to see the probable end of the fashion greats like the house of Christian Lacroix.

Lacroix is another designer who has had to declare insolvency in response to the ailing financial market, and although a few buyers (like Emirati Sheikh Hassan Ben Ali al-Naimi) have stepped forward, the fate of the fashion house still teeters on shaky ground.  The French tribunal responsible for the case was unable to resolve anything today, declaring a new hearing date on 1 December.

Although the Rococo decadence of Lacroix is out-of-keeping with the more pared-down conservatism brought on by the recession, we still love the house’s colorful optimism which adds some much-needed brightness to an otherwise gray runway season.

Read the full story {AFP}

International luxury brand Escada is still in hot water after filing for insolvency this August, but ZSL Partners, a consortium backed by the company founder’s son, Sven Ley, has stepped forward to bid on the fashion house in an attempt to save it from going under.

ZSL Partners is comprised of Ley, former head of Gucci Giacomo Santucci, and Italian investment group Borletti and is backed by several (unnamed) wealthy families.  Escada has not yet reached a decision on the final buyer, but a small number of investors have come out of the woodwork to save the ship, with ZSL Partners offering a little over $118 million.  An official announcement will likely be made within the next couple days, sources say.

We hope Escada will be able to pull itself out of its financial mire and continue to be the great fashion house we love to watch.

Read the full story {Reuters}