Latest news with #LeeCooper
Fashion Network
14-05-2025
- Business
- Fashion Network
Iconix and Xavier Niel submit €60 million bid for the French brand Le Coq Sportif
A consortium of investors, including French telecom magnate Xavier Niel and U.S.-based group Iconix—owner of Lee Cooper and Umbro—has submitted a €60 million bid to acquire Le Coq Sportif, the historic French sportswear brand currently in receivership. The group confirmed the submission in a press release issued Wednesday. Le Coq Sportif, the official outfitter for the French delegation at the upcoming Paris 2024 Olympic Games, has been under court-ordered restructuring since November 2023. Founded in Romilly-sur-Seine in the Aube region, the company employs around 300 people in France. In a statement released one day after the deadline for takeover bids, the consortium announced its proposal aims to "refocus Le Coq Sportif on its core identity as an accessible and popular brand, while expanding its global reach with significant financial backing to revive this iconic French label." The proposed bid structure includes 51% backing from Neopar, a French investment firm owned by the Poitrinal family and known for its corporate turnaround strategies. Another 26.5% would come from a group of investors that includes Xavier Niel, several athletes, and former Le Coq Sportif executives. Iconix would contribute the remaining 22.5%. According to comments shared with AFP, the group confirmed that the €60 million would be "injected immediately. " The proposal also claims support from Intersport and several multibrand retail chains. In March, the Grand Est regional authority revealed that two groups were in discussions to acquire Le Coq Sportif, one of which had the support of the French government. To facilitate the deal, the region agreed to cancel 50% of its claims against the company. Le Coq Sportif reportedly owes between €60 million and €70 million to public entities. The Grand Est region also stated that the company previously received €42 million in loans from the French government.
Fashion Network
14-05-2025
- Business
- Fashion Network
Iconix and Xavier Niel submit €60 million bid for the French brand Le Coq Sportif
A consortium of investors, including French telecom magnate Xavier Niel and U.S.-based group Iconix—owner of Lee Cooper and Umbro—has submitted a €60 million bid to acquire Le Coq Sportif, the historic French sportswear brand currently in receivership. The group confirmed the submission in a press release issued Wednesday. Le Coq Sportif, the official outfitter for the French delegation at the upcoming Paris 2024 Olympic Games, has been under court-ordered restructuring since November 2023. Founded in Romilly-sur-Seine in the Aube region, the company employs around 300 people in France. In a statement released one day after the deadline for takeover bids, the consortium announced its proposal aims to "refocus Le Coq Sportif on its core identity as an accessible and popular brand, while expanding its global reach with significant financial backing to revive this iconic French label." The proposed bid structure includes 51% backing from Neopar, a French investment firm owned by the Poitrinal family and known for its corporate turnaround strategies. Another 26.5% would come from a group of investors that includes Xavier Niel, several athletes, and former Le Coq Sportif executives. Iconix would contribute the remaining 22.5%. According to comments shared with AFP, the group confirmed that the €60 million would be "injected immediately. " The proposal also claims support from Intersport and several multibrand retail chains. In March, the Grand Est regional authority revealed that two groups were in discussions to acquire Le Coq Sportif, one of which had the support of the French government. To facilitate the deal, the region agreed to cancel 50% of its claims against the company. Le Coq Sportif reportedly owes between €60 million and €70 million to public entities. The Grand Est region also stated that the company previously received €42 million in loans from the French government.
Fashion United
14-05-2025
- Business
- Fashion United
Takeover of Le Coq Sportif: offer submitted by several investors
Paris - A consortium including several investors, such as Xavier Niel, and the American group Iconix (Lee Cooper, Umbro) submitted an offer of 60 million euros to take over the sports equipment company Le Coq Sportif, which was placed in receivership at the end of November, according to a statement on Wednesday. Le Coq Sportif, a supplier for the French delegation at the Paris 2024 Olympic Games, was placed in receivership in November. Founded in Romilly-sur-Seine (Aube), the brand has approximately 300 employees in France. In a statement released the day after the deadline for takeover bids, a consortium announced that it had submitted an offer to 'refocus Le Coq Sportif around its brand DNA of 'accessible and popular' and deploy it globally with significant financial contributions to revive this beautiful French brand'. This project is 51 percent supported by the investment company Neopar, a specialist in 'business turnaround' and owned by the Poitrinal family; 26.5 percent by a group of investors - including Xavier Niel, sportspeople and former Le Coq Sportif executives; and 22.5 percent by the American group Inconix, which owns the Umbro and Lee Cooper brands. The consortium plans to contribute a total of 60 million euros, which would be 'injected immediately', it was stated to AFP. The project also benefits from 'the support of Intersport and numerous multi-brand retailers', the statement said. Last March, the Grand Est region indicated that two buyers were in the running to take over Le Coq Sportif, including one supported by the state. The region had agreed to cancel 50 percent of its claims against the company to facilitate its takeover. Le Coq Sportif is indebted to public bodies for an amount of between 60 and 70 million euros. The company has notably benefited from several loans from the French state, totalling 42 million euros, the Grand Est region also mentioned. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Ya Biladi
27-02-2025
- Business
- Ya Biladi
Mazeej Mall, Marjane's first next-gen retail park in Laayoune
Marjane Group inaugurated its first next-generation retail park in southern Morocco on Wednesday, specifically in Laayoune. Located on Mohammed VI Avenue, Mazeej Mall is managed by Marjane Reim, the Marjane Group subsidiary responsible for overseeing the company's commercial real estate assets, according to a press release. The project represents an investment of over 260 million dirhams and spans a total area of 60,000 m², including 30,000 m² of covered space. Mazeej Mall features an 11,000 m² hypermarket, a 5,400 m² home furnishings section, and 34 stores covering more than 13,000 m². It also includes a 1,500 m² outdoor children's play area and an indoor leisure space of over 700 m². For added convenience, the mall offers free parking with 555 spaces and a 1,300 m² service station. Mazeej Mall's retail mix includes local, national, and international brands across various sectors, including fashion, electronics, home appliances, furniture, cosmetics, beauty, services, and Saharan artisanal products. Among the national brands present at the mall are Electroplanet, Inwi, Attijariwafa Bank, Yasmine Fun Park, Kounouz, Rosabella, Razana, Marwa, Olga, Carly, Giomi, Faydoul Tours, Locamed, Les Drugstores Du Maroc, Wojooh, Afriquia, Keito, and Gorena. Shoppers will also find international brands such as Celio, Yves Rocher, Bayt Alqurachi, Alain Afflelou, Lee Cooper, Gotcha, and Mieivic. According to Marjane Group, the development of Mazeej Mall is part of a broader initiative to stimulate the local economy and address employment demands. The project is expected to create around 1,000 direct and indirect jobs. These jobs will span various sectors, including retail management, maintenance, security, and customer service. Mazeej Mall blends seamlessly into the urban landscape, drawing inspiration from traditional Saharan souks and caravanserais. Its architectural design pays tribute to local heritage, featuring open and airy spaces.
