lacroix label bought by us firm luxury goods group lvmh has sold its lossmaking christian lacroix clothing label to a us investment group the parisbased firm has been shedding noncore businesses and focusing on its most profitable brands including moet chandon champagne and louis vuitton lvmh said the french designer s haute couture and readytowear labels had been purchased by the falic group for an unspecified sum the falic group bought two cosmetics labels from lvmh in 2003 the sale of the lacroix label comes as many fashion houses are struggling to make money from their expensive haute couture ranges the floridabased falic group which also runs a chain of 90 duty free stores in the us said it planned to expand the brand by opening new stores mr lacroix said he planned to stay at the label he founded in 1987 although exact details are still to be confirmed