After experiencing a stretch of formidable growth, the Swiss family behind Lacoste, the apparel firm, is looking for acquisitions to bolster its “affordable luxury” and activewear brand collection, the Financial Times reported.
While revenue is under pressure in the department store business as more consumers shop via eCommerce, the apparel business has reportedly been expanding at a steady pace. Thierry Guibert, the head of the global business of Maus Frères SA and Lacoste’s chief executive, said the Maus family had tasked him with growing the clothing business.
The executive said, according to the report, “Our brands have a lot of potential, and the group wants to go on the offensive again. There is a desire to reinforce our portfolio of brands.”
The subsidiary led by Guibert, which is known by its crocodile mascot, now comprises approximately 60 percent of the approximate €5 billion that Maus Frères SA brings in yearly.
The business is switching its name to MF Brands Group from Maus Frères International as it seeks growth opportunities. Guibert aims to buy brands with sales of around €200m to €300m that are already established in the segment.
Lacoste, which was started by two tennis players in 1933, offers clothing, accessories and shoes. It also has a partnership to sell clothing at the Olympic Games.
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In separate news, Lacoste was looking to let French Open viewers purchase clothing via “on-air shoppable moments” via a televised experience, per reports in 2019. The opportunity was to arrive with NBCUniversal’s ShoppableTV experience. With the effort, a quick-response (QR) code would guide shoppers to Lacoste’s website to finish their purchases. The scannable codes would provide a more seamless shopping experience without the need to type in a web address or open a mobile app.
