2024-10-31 16:14:00
This Wednesday, <a href="https://www.archyde.com/le-coq-sportif-seeks-30-million-euros/" title="Le Coq Sportif seeks 30 million euros”>Airesis, the parent company of the Le Coq Sportif brand, announced that it had mandated an investment bank to support it in finding financing solutions.
Facing cash flow problems and recently taken to court by the French Rugby Federation for unpaid debts (5.3 million euros), Le Coq Sportif seems to be in a very bad situation despite “sales prospects which remain positive driven by the enthusiasm expected after the Paris 2024 Olympic Games, both in France and internationally. »
Airesismanaged by Marc-Henri Beausire and which also owns Movement Ski, “informs its investors that as a result and despite a recovery in sales, the 2024 results will show a significant loss. This situation is mainly explained by the substantial investments made to support the visibility of Le Coq Sportif during the Paris 2024 Olympic Games, as well as by the costs linked to the restructuring undertaken for Movement. »
For the Paris 2024 Olympic Games, Le Coq Sportif was in financial difficulty and on the verge of providing the quantities of parts planned for the French delegation. The organizing committee for the Paris Olympics then made a loan of 3 million euros to the parent company of the brand to enable it to meet its deadlines. “For us, it was still quite anxiety-inducing. Now we were too far forward to go back. We had to have the outfits. There was not necessarily a plan B. There was financial support from Paris 2024 which was provided. This was undoubtedly the solution”explained CNOSF president David Lappartient at the beginning of July.
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**Interview with Marc-Henri Beausire, CEO of Airesis**
**Interviewer:** Thank you for joining us today, Marc-Henri. Le Coq Sportif has clearly been facing some financial challenges. Can you explain the current state of the brand?
**Marc-Henri Beausire:** Thank you for having me. Yes, we are indeed navigating a tough period. We’ve faced cash flow issues and a recent court case due to unpaid debts. While we’re optimistic about future sales, particularly in light of the upcoming Paris 2024 Olympic Games, the immediate financial reality is concerning.
**Interviewer:** Speaking of the Olympics, how has the financial strain impacted your plans for the event?
**Marc-Henri Beausire:** The situation has been challenging. We were on the brink of not being able to deliver the required merchandise for the French delegation. Thankfully, the organizing committee provided us with a loan of 3 million euros, which enabled us to meet our commitments.
**Interviewer:** Many would see that as a significant lifeline. How do you plan to stabilize the company’s finances moving forward?
**Marc-Henri Beausire:** We’ve engaged an investment bank to explore financing solutions. We believe that, with the right support and strategic adjustments, we can leverage the excitement of the Olympics to drive sales and ultimately recover.
**Interviewer:** You mentioned a loss projected for 2024. Can you elaborate on that?
**Marc-Henri Beausire:** Absolutely. The losses are primarily due to substantial investments made for the Olympic visibility of Le Coq Sportif and the restructuring costs for Movement. It’s a tough but necessary step to ensure long-term viability.
**Interviewer:** What message would you like to convey to your customers and supporters during this tumultuous time?
**Marc-Henri Beausire:** I want to assure our customers and fans that we are committed to overcoming these challenges. Their support is invaluable, and we are dedicated to bringing them quality products that embody the spirit of sport and heritage that Le Coq Sportif stands for.
**Interviewer:** Thank you, Marc-Henri, for sharing these insights. We wish you and Le Coq Sportif the best as you work through these challenges.
**Marc-Henri Beausire:** Thank you for the opportunity. We appreciate the support!
