Le Coq Sportif, equipment supplier to the French Olympic Team since 2021, has extended its contract with the Bleuets until 2026, the French Olympic committee announced on Tuesday.
Le Coq Sportif, equipment supplier to the French Olympic and Paralympic team since 2021, which has been experiencing financial difficulties for months and whose contract was ending in a few weeks, was renewed until 2026, the Olympic committee announced on Tuesday. French (CNOSF). The brand will only be responsible for representational outfits, with nearly 60,000 pieces to be produced, and will provide “a unique collection” for the 2026 Winter Olympics in Milan-Cortina, said the CNOSF.
Before the Paris Olympics this summer, many players in the sporting world, speaking on condition of anonymity to AFP, expressed concern about the company’s ability to deliver the French teams’ outfits for the Olympics on time. . But everything was finally delivered well before the start of the Olympics. This question, however, had greatly concerned the CNOSF executives. “We would have done without the crisis”had also admitted to AFP the president of the CNOSF David Lappartient at the beginning of July, two weeks before the start of the Olympics.
“It ended rather well since in the end, there were shifts in the dates, but all the competition outfits were delivered on July 5. It was quite a rush at the end…”he said. The brand with the gallinaceous emblem was chosen in May 2020 by the organizing committee of the Olympic Games at the expense of Lacoste, to equip almost all French athletes on the podiums and in competition as well as to wander around the Olympic village.
A brand in difficulty
This partnership was due to end in a few weeks, but the CNOSF has therefore decided to renew it for two years. The company, which has nearly 360 employees including more than 140 in its factory based in Romilly-sur-Seine, will have to equip the French delegations for the next nine international competitions, including the Winter Olympics and the Winter Paralympic Games. in Milan-Cortina. His contract runs until the Youth Olympic Games (YOG) in Senegal in November 2026. This choice may seem surprising after the tensions which preceded the Paris Olympics. The brand had accumulated numerous delays in the delivery of equipment, and weeks before the start of the competitions, certain federations had raised concerns about this situation with the CNOSF.
The difficulties encountered by the equipment manufacturer had notably led the organizing committee of the Olympic Games to grant a loan of 3 million euros to the parent company of the brand, the Swiss holding company Airesis, 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. It was undoubtedly the solution”he said.
The company’s difficulties are not new. The brand almost disappeared in the 1990s, before being bought in 2005 by the Swiss investment company Airesis founded by the former boss of Adidas, Robert Louis-Dreyfus, and relaunched from Romilly, once again becoming the equipment manufacturer of the XV of France in 2018. Like other companies in the sector, it has had to face rising costs of energy, transport, and raw materials in recent months.
The State notably came to its rescue by granting it a guaranteed loan of 10 million in 2023, as part of the government plan to aid businesses affected by the economic consequences of the conflict in Ukraine. Last year, Le Coq Sportif saw its turnover drop from 20 million euros to 121.4 million euros for a loss of more than 28.25 million euros. A drop in sales which can be explained, according to the Swiss holding company Airesis, the parent company, by a repositioning in shoes. Airesis posted a loss of 36 million Swiss francs (37 million euros) in 2023. Proof of the poor financial shape of Le Coq Sportif, the FFR, just after ending its partnership, recently took it to court and demands 5.5 million euros in unpaid debts from him.
