Lacoste eyes controlling stake in joint venture with Pentland
According to FashionNetwork, which initially reported the news, competition authorities in France are currently assessing the deal, with a decision said to be made 'soon'. If approved, the partnership between the British sportswear conglomerate and French premium brand will come to an end.
The duo first established the joint venture back in 2018 to oversee the operations of Lacoste's footwear business. It cemented what was already a long-standing partnership between Lacoste and Pentland, which had first teamed up in 1991.
Now, however, Lacoste is on a path of repositioning itself as a more high-end sportswear player. This has repeatedly been underlined by CEO Thierry Guibert, who had already told the Financial Times back in January of the brand's intention to reclaim its licenses over shoes, leather goods and under garments to further help support ambitious growth plans.
Ultimately, Guibert is hoping to increase the brand's annual sales to four billion euros, with a plan that particularly focuses on the US market, where he has set out to double sales from 400 million euros.
FashionUnited has contacted Pentland and Lacoste with requests to comment.
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