Le Coq Sportif posts healthy sales increase
LeCoq Sportif’s effort to develop its textile business has started to pay off, with activity picking up by 50% in 2012 against the previous year, largely down to the successful launch of 6 stores during 2012, including a flagship store in London’s Covent Garden.
The company posted a healthy increase of 21% in sales, totaling 119 million euros. Sales at the brand’s distributors picked up and direct business with Foot Locker Europe (which was previously under license) also contributed to the progression.
In terms of profitability, the brand saw operational profit remain stable at around 6.3 million euros mainly due to marketing investments. Amortization and fluctuation of the USD against the euro also contributed to the 13% decrease in net profit to 2.5 million euros for the French brand.
The Airesis group, which owns 69% of Le Coq Sportif, also saw a 12% sales growth for its Boards & More division totaling 45 million euros, largely due to the Kite business. The brand Ion reported a sales growth of 29% after presenting its first Bikewear collection. Thanks to the stand-up paddle board craze, the brand Fantastic saw a 23% increase in operational profit at 3.1 million euros. Net profit, however, declined to 2.7 million euros.
The group is focused on development in North America and Australia, as well as Latin America. Overall, swiss-based Airesis reported turnover of 163 million euros, with operational profit at 9.6 million euros and net profit at 5.2 million euros.
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