Sneaker Jobs can confirm that the iconic French sportswear brand, Le Coq Sportif, has also recently filed for bankruptcy.
Following yesterday’s news that Sneakersnstuff had filed for bankruptcy, Sneaker Jobs can now confirm that Le Coq Sportif has also recently filed for bankruptcy. Despite reporting a 30% increase in revenue of €82 million for the first half of 2024, the iconic French sportswear brand also reported widening losses of around €18 million, which was up from €10.5 million compared to the same period from the previous year. Le Coq Sportif attributed the losses to increased sales & marketing spend, as competition has become fiercer & wallets have become tighter, sportswear brands & retailers have had to dramatically increase brand exposure. With the current retail/industry headwinds it really is a winners & losers game. The Paris Commercial Court has granted the French sportswear brand a six-month observation period to facilitate the company’s restructuring efforts. This move aims to address the brand’s financial challenges while safeguarding the jobs of its 330 employees.
Founded all the way back in 1882 the brand has kitted out everyone from Tour De France legends to elite track athletes. It was back in the 1970s & 1980s where the brand really rose to prominence on the backs of some of the greatest football players. Worn by the likes of Diego Maradona with the Argentina home shirt from 1980 & Glenn Hoddle with the Tottenham home shirt from 1982. The French sportswear brand dominated the top tier football leagues of the era sponsoring shirts all the way from Ajax to Everton. The 90s saw the brand really tap into the vibrant colour-blocking French sportswear styles which if you were a 90s kid here in the UK you will remember fond trips to old school sportswear stores like JJB’s & Allsports to bag the latest “cockerel” logo releases. Moving into slightly more modern times the brand had moved into the hype sneaker release space collaborating with the likes of Hanon on their iconic R800 silhouette.
Let’s just hope the French sportswear brand can turn things around over the next 12 months. Keep posted at Sneaker Jobs for more news surrounding the bankruptcy of Le Coq Sportif. Also don’t forget to subscribe to Sneaker Jobs & follow @sneaker_jobs to keep up to date with all the latest industry news.