Le Coq Sportif closes the first half on the rise. The French fashion and sports equipment distribution company has closed the first six months of fiscal year 2024 with a turnover of 82 million euros, which represents an increase of 30% compared to the same period of the previous year.
Meanwhile, the group remains in the red and has increased the figure to 18.2 million euros, compared to the 10.5 million euros of losses it accumulated in 2022. The company notes that its losses have increased given “significant marketing investments” that have been made throughout the period..
Looking ahead to the end of the second half, the company points out that expenses will continue to be tight due to “delays with suppliers.” Likewise, the company has negotiated a 24-month deferral of the repayment of your loan obtained by the State (PGE) during the pandemic, as well as the deferral of various tax debts.
On the other hand, the company aims to disembark in America, with partners, when its business “is more stable” and the management emphasizes being “determined to face future challenges.”
Le Coq Sportif has recorded losses of 18.2 million euros
Le Coq Sportif began its journey in 1882 with the help of Émile Camuset. In 1995, the company passed into the hands of Adidas, until seven years later it was sold to the Swiss group Airesis, its current owner.
During its history, Le Coq Sportif has sponsored various sporting events such as Formula 1 in 2019 or the Tour de France, as the official supplier of cyclists’ jerseys in 2012.
The company also dressed the French soccer team in the World Cup in Sweden in 1958, the Spanish and Italian teams for the 1982 World Cup and the Argentine team in 1986, among others. has been in charge of sponsoring the French team in the last Olympic and Paralympic Games in Paris in 2024.
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