PARIS — French bicycle manufacturer Look Cycle has entered a licensing agreement with Chartreuse & Mont Blanc for the design, production and distribution of the textile division of Rossignol, the French mountain sports label.
“We will return to the fundamentals of the brand,” Look Cycle president Dominique Bergin said, citing technical mountain sports apparel, the lifestyle 1907 heritage line and a fashion collaboration with Jean-Charles de Castelbajac. Terms of the deal were not disclosed.
Rossignol, which is predominantly known for skiwear, has had a bumpy ride since 2005, when it was acquired by surfwear behemoth Quiksilver Inc. for $320 million. After failing to turn Rossignol into a full-fledged lifestyle line, Quiksilver sold the French brand to Chartreuse & Mont Blanc (which is owned by Australian financial services company Macquarie Group) for $50.8 million last year.
Look Cycle’s annual turnover reached 35 million euros, or $52.4 million at current exchange, for the fiscal year ending June 30.
Rossignol’s textile division is estimated to have sales of about 10 million euros, or $15 million, a year.