LACOSTE TO OPEN FIRST RETAIL UNIT IN DECEMBER
NEW YORK — Lacoste/Devanlay US Inc., a subsidiary of Devanlay SA, the French firm that owns the rights to the Lacoste brand, is opening its first retail sites.
The firm plans to open a Lacoste store on Worth Avenue in Palm Beach in December and a boutique in the Bal Harbour Shops in January. A store at an undisclosed address on Madison Avenue will open in the summer of 1995.
Ari L. Hoffman, president of Lacoste, said the stores will be small but highly efficient, averaging about 1,200 square feet, and do about $800 per square foot in sales.
Lacoste, a label that stood for pricey polo shirts with alligator emblems, became widely distributed under the ownership of Crystal Brands. Devanlay bought the rights from Crystal Brands in 1992 and stopped manufacturing for a year. Last spring, Lacoste reintroduced the brand in stores like Saks Fifth Avenue, Neiman Marcus and Barneys.