‘Lacoste H1 turnover 25 percent up’Monday, 17 September 2012
For the first half of the year, Lacoste has registered an increase in turnover by 25 percent, according
to the CEO of the French brand. Christophe Chenut made the comments to Just-Style.com, during New York Fashion Week where Lacoste's spring/summer 2013 collection was being presented.
Chenut described the 25 percent increase as "doubtless the best growth rate in the market”. He said strong growth was due to the combined effect of a favorable exchange rate and a rise in sales to retailers marketing the crocodile-logo line. “Our market positioning in the 'accessible luxury' segment has benefited from the emergence of middle classes in Asia, Russia, and South America."
For 2012 as a whole, Lacoste was expected to have a growth in turnover of 14 percent but now looks to surpass that.
After three difficult years, Lacoste reached record sales of euro 1.6 billion euros (2.1 billion dollar) last year, an increase of 11 percent over the previous year.
The turnaround owes much to Chenut and to former Carrefour chief, José Luis Duran. In 2008 Chenut took the helm of Lacoste SA, which manages the brand. In 2009 Luis Duran was appointed to head Devanlay, the exclusive worldwide licence holder for Lacoste clothing and accessories.