Lacoste family dispute ends in sale to Swiss company
08/11/2012
The previously family-owned brand has been beset with troubles at the top as its board last month voted in Sophie Lacoste Dournel as its new chairman, effectively ousting her father, Michel.
She announced “with great sadness” that she and some family members would sell their 28% shares to Maus Frères. The company owned 35% before Mr Lacoste sold his 30.3% to them last month, citing the family dispute as a reason. Ms Lacoste said she had wanted to keep the company within the family.
Despite the feud, the popularity of the label appears to be growing, with new stores opening and a rise in sales last year: it reported revenues of €1.6 billion, up 14% from a year earlier.
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