Le Coq Sportif, the iconic French sportswear brand with a history dating back to 1882, recently found itself at a crossroads. After facing financial troubles and operational challenges that led to losses in the last two years, the company entered receivership. However, a new chapter has unfolded as a group led by entrepreneur Dan Mamane stepped in to acquire the struggling brand.
The Paris Commercial Court’s decision in favor of Mamane’s proposal marked a turning point for Le Coq Sportif. Beating out stiff competition, including a consortium backed by French billionaire Xavier Niel and Olympic gold medalist Teddy Riner, Mamane’s group is now at the helm with ambitious plans for rejuvenating the brand.
With an initial investment commitment of €70 million (US$82.1 million), Mamane aims to steer Le Coq Sportif towards profitability and growth. Alexandre Fauvet, an industry veteran with experience at Lacoste and Fusalp, has been appointed as the new chief executive to lead the company through this revitalization phase.
Mamane’s track record in successfully turning around businesses is evident from his past ownership of Swiss furniture retailer Conforama. His strategic approach involved optimizing operations, enhancing digital capabilities, and driving revenue growth. Now, he brings this expertise to Le Coq Sportif with a bold vision for the future.
The bid process that culminated in Mamane’s acquisition faced scrutiny from competitors who raised concerns about fairness. Despite objections from Niel’s consortium regarding the selection process favoring Mamane’s offer, the court upheld its decision. This marks an important milestone in Le Coq Sportif’s journey towards stability and prosperity under new leadership.
One of the key objectives outlined by Mamane’s consortium is to achieve sales of €300 million by 2030 while focusing on product development across various segments such as sport style, heritage, lifestyle, and performance. Additionally, there are plans to triple international sales outside France by 2027—an ambitious yet achievable goal with strategic planning and execution.
The challenges faced by Le Coq Sportif in recent years underscored the need for restructuring and innovation within the company. From securing financing solutions during receivership to forging partnerships with global players like Japanese group Itochu and industry experts like Udi Avshalom—formerly associated with Yeezy—Le Coq Sportif is poised for a renaissance.
As Le Coq Sportif sets its sights on regaining market share both domestically and internationally, stakeholders are optimistic about its prospects under new ownership. The brand’s legacy combined with fresh perspectives bode well for its resurgence in the competitive sportswear landscape.
In conclusion, Le Coq Sportif’s emergence from receivership signals not just a change in ownership but also a strategic shift towards sustainable growth and relevance in today’s dynamic market environment. With visionary leadership at the helm and comprehensive plans for expansion and innovation underway, all eyes are on Le Coq Sportif as it embarks on this exciting new chapter in its storied history.
