Le Coq Sportif: Dan Mamane wins the match and chooses Alexandre Fauvet as CEO
The brand will be entrusted to Alexandre Fauvet, a former Lacoste executive who was recently CEO and minority shareholder of premium alpine brand Fusalp. In a press release, the consortium also stated that the "project includes the support of the Japanese group Itochu, owner of the brand in Asia, as well as that of Udi Avshalom, a world-renowned sneaker expert and former COO of Adidas, who will take on the position of Global Brand Strategic Advisor."
A large-scale partnership, but for what project? "The plan validated by the court aims to reposition Le Coq Sportif as a benchmark international brand in high-end sports and lifestyle. The ambition is to achieve sales of 300 million euros in 2030 (compared with 122 in 2023) and "a return to sustained profitability."
To achieve this, the brand will "develop its offer, with a new segmentation around four universes: sportstyle, sport heritage, lifestyle chic and technical performance. Distribution will be rebalanced between the selective network, e-commerce, marketplaces, and affiliated stores. Internationally, the ambition is clear: to triple the share of sales outside France by 2027."
"After some difficult years, Le Coq Sportif needs to regain its influence and desirability, and that's what our project is all about. It is based on strong convictions and the assets of this emblematic brand: a French brand, unique textile know-how, a precious territorial anchorage, and immense potential for reconquest," explained Mamane in the consortium's press release.
"We will give back to Le Coq Sportif the means to innovate, to seduce world markets again and to assert itself as a reference of French style and sport."
As rumors have suggested in recent weeks, the French industrial aspect seems to have weighed heavily. The buyer explains that the historic workshops in Romilly-sur-Seine, a few kilometers from Troyes, will play an important role in the strategy, which aims to bring together creative, industrial and strategic functions, whereas the company previously had major offices in the heart of Paris. The Romilly-sur-Seine site will become a true reference center for textile innovation, high-end production, and the circular economy. It will also house a research and development center, enabling the integration of the most advanced technologies in terms of design, materials, and responsible production."
All the expertise of the new CEO, Fauvet, will be needed to deploy this approach to the product, at a time when the brand has been confronted with delicate seasons in terms of sales to both French and international multi-brand customers.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Euronews
2 hours ago
- Euronews
Danish PM scolds fellow EU leaders for forgetting climate change
Danish Prime Minister Mette Frederiksen on Tuesday scolded fellow EU leaders who have chosen to put aside the fight against the climate crisis for the sake of boosting competitiveness and cutting red tape. "It seems to me that because there are so many other things on the table and so many challenges that some colleagues are starting to forget that fighting climate change should be one of our top priorities," Frederiksen said in Strasbourg. Her reproach comes as Denmark assumes the rotating presidency of the EU Council, giving the country an enlarged role in the bloc's decision-making process, including the negotiations on a proposed target to slash carbon emissions by 90% by 2040. The talks will be heavily influenced by the growing right-wing backlash against the Green Deal, which has put Copenhagen in a shrinking minority of capitals that still believe the transition to net zero can be a driver of economic growth and high-quality jobs. "Unfortunately, I think all green decisions are going to be difficult in the next half a year. And I say unfortunately because I really believe we have to fight climate change," Frederiksen told reporters in the European Parliament. "We will do our best, but it looks difficult." The United Nations warns the world is getting "perilously close" to exceeding the Paris goal of limiting the rise of global temperatures to 1.5°C above pre-industrial levels. "Of course, a new target when it comes to 2040 is important, but it's also important that we get rid of Russian oil and gas. For me, these two things are interlinked," the premier added, referring to the proposed phase-out of Russian fossil fuels by 2027, which Hungary and Slovakia vociferously oppose. "I want Europe to be independent from all angles, including energy." In recent months, a growing chorus of voices, such as Germany's Friedrich Merz, Italy's Giorgia Meloni and Poland's Donald Tusk, have become increasingly comfortable with their criticism against the Green Deal, arguing environmental laws should be drastically simplified – or, in some cases, outright repealed – to alleviate burdens for companies. French President Emmanuel Macron, a centrist who championed green policies in France and Europe, suggested the approval of the 2040 climate target should be delayed. "We must give ourselves the means to do so and make (the target) compatible with our competitiveness," Macron said at the end of an EU summit in June. The open contestation has left Ursula von der Leyen, the president of the European Commission, caught between the Green Deal, a key landmark of her first term, and mounting pressure to cut red tape as fast as practically possible. Von der Leyen has embraced a simplification agenda while insisting the objectives enshrined in the Green Deal, namely climate neutrality by 2050, would remain intact. But the backlash has also rattled the Commission, which last month unexpectedly announced the withdrawal of the Green Claims Directive, a draft law meant to combat "greenwashing" in advertising, and later reversed the move. The perceived backtracking has angered the socialists and the liberals in the Parliament, fuelling tension within the centrist coalition that re-elected von der Leyen. Standing by Frederiksen's side, European Parliament President Robert Metsola acknowledged the political arithmetic had shifted compared to the previous mandate, when most of the laws featured in the Green Deal received broad cross-party support. Conservative MEPs have set their sights on the 2035 ban on the combustion engine, the anti-deforestation law and green requirements in the Common Agricultural Policy. "I want to prove that Europe and this Parliament remain resolute in that direction of tackling climate change. What we also have to recognise is that this Parliament is different to the previous one," Metsola said. "There is an increasing number of members who, when they look back at what has been decided by the chamber, (believe) it's a symbol of having gone too far, too fast." Metsola's remarks came just hours after it was decided that the Parliament's rapporteur for the 2040 climate target would be assigned to the far-right Patriots for Europe (PfE) group, a selection that progressive forces immediately decried.
Local France
4 hours ago
- Local France
5 things to know about France's €1 homes
1 They're really rare The €1 home schemes have been common in Italy for a few years now, and sparsely inhabited villages in Spain have also run similar schemes. In France, however, €1 homes - or related discounts or financial aid - are quite rare. Partly this is because France doesn't have quite the same depopulation problem as Spain and Italy, despite historically low population numbers in some rural areas, especially in the 'empty middle' of the country. Although it's not uncommon to see old, abandoned homes in the French countryside, often these have owners but are tied up in legal disputes, especially those related to France's complex inheritance laws . There's also the fact that rural France is pretty popular with second-home owners, some of whom don't mind taking on a renovation project. Advertisement In spite of this, however, there are some areas that have properties sitting empty and are keen to attract buyers. And since 2018 some of these have been experimenting with '€1 home' offers. There are also some similar schemes such as offering a cash lump sum to people who buy an old home in a certain area, or offering financial aid with renovation costs. If you happen to be a doctor or a dentist then rural areas in 'medical deserts' are keen to lure you in, sometimes with the offer of a bargain house. 2 They have strings attached In Italy most of the €1 home schemes simply involve you handing over the nominal sum and taking possession of the keys (which doesn't mean there aren't plenty of moments of buyers' remorse featuring everything from spiralling renovation costs to the realisation that you don't have the correct paperwork to spend long periods there and even rare cases where it turned out that the property already had an owner ). In France things are more formal - most of €1 homes or discount schemes are run by local government - usually the mairie - and in a lot of cases you have to fit certain criteria in order to benefit. The exact conditions vary between areas, but the general rule is that mairies want people who are prepared to commit to renovating the property, and then to living there. Second-home buyers are generally excluded while some areas limit the offers to first-time buyers while others have an upper age limit or are aimed at low-earners. In almost all cases you will be expected to sign an agreement to renovate within a set time period, and to live in it for at least three years, sometimes more. Financial penalties or having to pay back money received are usual if people fail to respect these agreements. It's expected that these homes require extensive renovation - property experts Meilleurs agents estimate that the minimum renovation budget for a place of this type would be €50,000. They are generally sold 'as seen', which makes it hard to back out even if it turns out to have serious structural problems. Advertisement You'll also have to familiarise yourself with French building regulations and paperwork requirements, especially if you are in a historic or conservation area. 3 They're not always open to foreigners Although the agreements don't usually specify that you have to be a French citizen, some of the conditions are hard for foreigners to comply with. The sort of paperwork required to apply for these schemes - for example French tax declarations - in effect rule it out for people moving to France for the first time. If you're already living in France and meet the other criteria, however, this could be a possibility for a non-French national. It's not a formal requirements - but the complexity of both the legal agreements and the subsequent renovation project means that this probably shouldn't be undertaken by someone whose French is still at beginner level. Advertisement 4 They're isolated In most cases, the homes on these schemes are in remote areas - although sometimes they are available in small towns within sparsely-populated départements. While these will suit some buyers you need to assess the work situation first, as there probably won't be much in the way of employment opportunities locally (a primary reason that young people leave these areas is the lack of job opportunity). You'll probably need to have work already lined up before moving - which is easier as remote working becomes more widespread (although if you are a non-EU citizen, check that your residency status is compatible with remote work ). Likewise you will almost certainly need a car, as many of these places are ill-served by public transport. 5 They're not easy to find Perhaps fittingly for schemes that are rare and complicated, even finding announcements about €1 homes is not easy. Most municipalities advertise them locally - because ideally they're looking for local people to take them on - via their own website or Facebook page, or in local papers. They're usually not placed with real estate agents - although if you cultivate contacts with agents they will usually know about them, and they don't always make local or national news, although some ' maisons à un euro ' headlines do exist.
LeMonde
5 hours ago
- LeMonde
Mbappé drops criminal complaint against PSG as talks take place behind the scenes
For Paris Saint-Germain's top management, the news broke at just the right moment, 48 hours before the sporting reunion between the club and its former star striker Kylian Mbappé. Ahead of the Club World Cup semi-final between PSG and Real Madrid on Wednesday, July 9, French sports daily L'Equipe revealed on Monday that Mbappé's lawyers had just withdrawn a criminal complaint filed in May for "moral harassment and attempted extortion of signature." The newspapers described the withdrawal as a gesture of de-escalation in the dispute between the Parisian club and the player. For over a year, the star has demanded that PSG pay him €55 million in unpaid salary and bonuses. So far, he has been unsuccessful. Behind this sudden withdrawal of the complaint on Monday morning by the player, there has been a rapprochement and secret discussions between Mbappé's camp and PSG president Nasser Al-Khelaifi, on the sidelines of the Club World Cup, Le Monde can confirm. According to several sources close to the case, there is "a shared desire to reach an agreement." Asked for comment, PSG declined but reiterated its wish to find an "amicable solution."
