PARIS — Lacoste owner Maus Frères International generated 3.21 billion euros in annual sales for 2019, the company said on Thursday.
The privately owned Swiss retail group, which last year acquired contemporary French fashion label The Kooples, and also owns Aigle, Gant and Tecnifibre, also said it is being renamed MF Brands Group.
Excluding turnover from licenses, sales reached 2.64 billion euros, a 15 percent increase, the company added, without providing further details.
Group chief executive officer Thierry Guibert, who is also ceo of Lacoste, said the name change comes as MF Brands Group seeks the international expansion of its labels.
In May 2019, it named Romain Guinier ceo of The Kooples, tapping an executive from its ranks to run its most recent acquisition, which it billed as a move intended to reinforce the group’s position in the market for premium labels. Guinier had managed outerwear brand Aigle, best known for navy blue rain boots.
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Since taking up the reins of Lacoste five years ago, Guibert has repositioned the brand, expanding footwear and accessories while focusing on full-priced sales. He has also overhauled distribution networks, especially in the U.S., its largest market, closing hundreds of stores and reducing its presence in outlet malls.
Lacoste is focusing on prime locations in the U.S., mostly in California, Florida, Texas and New York. In Europe, meanwhile, the brand pulled out of some department stores in Germany that it said did not fit its premium positioning, and took control of a distributor in Spain.
The moves had resulted in a loss of volumes and sales, but helped build a more coherent brand, according to Guibert.
The Kooples, meanwhile, registered revenues of 227 million euros in 2018. Founded in 2008 by brothers Alexandre, Laurent and Raphaël Elicha, the brand has placed an emphasis on accessories, which are organized around a select number of handbag models including the Emily bag, designed with Emily Ratajkowski. It has more than 300 stores and mostly operates in Europe and the U.S.