Daily Newsletter

18 October 2024

Daily Newsletter

18 October 2024

Beleaguered Le Coq Sportif secures French Olympic renewal

The French Olympic body has chosen to renew with the brand despite its financial woes.

Tariq Saleh October 18 2024

The French National Olympic and Sports Committee (CNOSF) and French Paralympic and Sports Committee (CPSF) have renewed their kit supply deal with Le Coq Sportif despite that sportswear brand’s financial struggles.

Le Coq Sportif, which has supplied the French Olympic and Paralympic teams since 2021, has secured a new deal covering 2025 and 2026 after being selected through a tender process.

The new agreement will cover nine competitions, most notably the 2026 Winter Olympic and Paralympic Games in Milan-Cortina.

Additional competitions include the 2025 World Games in China, the 2026 Mediterranean Games in Italy, and the 2026 Summer Youth Olympic Games in Senegal.

The French Olympic Committee has said: “The offer proposed by Le Coq Sportif is part of an unprecedented timeframe with the creation of a future Organising Committee for the 2030 Winter Games and where continuity with the Olympiad that has just ended is a key factor for success, while taking into account the situation of the selected equipment supplier.”

It was recently confirmed that the 2030 Winter Olympics will be held in the French Alps, with necessary government guarantees having now been provided.

The CNOSF and CPSF have chosen to renew with Le Coq Sportif despite having had to provide emergency funding to the embattled brand to fulfill its kit deal for the Paris 2024 Olympics.

This followed a €10 million ($10.8 million) loan from the French government undertaken in 2023.

In recent years, the brand’s financial woes have deepened, with the issues having been exacerbated primarily by its inability to secure a foothold in the footwear industry, a failure that saw its revenue drop by €20 million in the 2023 financial year.

Indeed, French rugby union’s FFR governing body recently filed a lawsuit claiming unpaid debt against Le Coq Sportif, its former kit manufacturer.

The FFR filed a compulsory liquidation order against the French brand to try and recoup €5.3 million it claims it is owed.

Uncover your next opportunity with expert reports

Steer your business strategy with key data and insights from our latest market research reports and company profiles. Not ready to buy? Start small by downloading a sample report first.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close