Lacoste nears €3 billion in revenue, says CEO

Lacoste continues to advance steadily toward its ambitious goals. According to CEO Thierry Guibert, the French brand—part of the MF Brands group owned by Switzerland’s Maus family—achieved an 8% increase in sales in 2024, bringing its revenue close to €3 billion. In a dual interview with the Financial Times and Le Figaro, Guibert, who has been with Lacoste for the past decade, reiterated Lacoste’s commitment to maintaining an annual growth rate of 5% to 10%, with a long-term target of €4 billion in sales by the end of the decade.

Speaking to Le Figaro, Guibert mentioned plans to launch a new shoe model in the coming days. He also noted that Lacoste’s iconic polo shirts now account for just 20% of total sales, a sharp decline from over one-third when he took over.

Over the past 10 years, the brand has increased its prices by 35% while pivoting heavily toward direct-to-consumer channels, which now account for 70% of its business. Lacoste also enjoys an operating margin that is five percentage points higher than competitors like Ralph Lauren and Hugo Boss, at approximately 15%. France remains its largest market, generating €500 million in annual revenue.

In his interview with the Financial Times, Guibert emphasised the critical role of the North American market in Lacoste’s growth strategy. He outlined plans to double sales in the region, currently at $400 million, by expanding the brand’s network of directly operated stores. A flagship boutique is set to open on Fifth Avenue in New York this April, mirroring the successful flagship strategy on Paris’s Champs-Élysées and London’s Regent Street. The brand also recently named American actor Taylor Zakhar Perez as the new face of its underwear line, a move designed to resonate with younger U.S. consumers.

While Lacoste aims to expand its women’s offerings, Guibert hinted at an even bolder venture: entering the hospitality sector. He envisions a Lacoste-branded environment that reflects the brand’s sporty DNA while encompassing a full range of athletic and lifestyle experiences, representing a significant evolution for the iconic French label.

In addition to leading Lacoste, Guibert oversees MF Brands, which includes Aigle, Gant, Technifibre, and The Kooples (acquired in 2019). For years, he has expressed interest in acquisitions, telling the Financial Times that the group is actively targeting retail brands with annual revenues of around €500 million.