Lacoste eyes US market push in effort to reach four billion euros in sales

French sportswear brand Lacoste is said to be making an “aggressive” push within the US market as its chief executive, Thierry Guibert, eyes an increase in annual sales to four billion euros.

In an interview with the Financial Times, Guibert said that he has set a target to double sales for Lacoste’s US business from 400 million euros. To achieve this, the company is planning to open new stores, including on New York’s Fifth Avenue, and launch concessions in several large-scale retailers.

Speaking to the publication, Guibert commented: “The US is the world’s biggest sports and sneakers market, so we have a very aggressive strategy there in the next few years. There is also the fact that tennis and golf – in which we have strong legitimacy – are becoming very trendy again in the US.”

Last year, when Lacoste was in a phase of testing retail markets, the company posted an 8 percent increase in sales to around three billion euros. Guibert reckons it can maintain a growth rate of 5 to 10 percent, “depending on market conditions”, which could get it to the four billion euro mark in the coming years.

Alongside regaining its control over licences for shoes, leather goods and undergarments, Guibert also sees opportunities within the hospitality industry, as consumers appear to be favouring experiences over physical goods. He added: “In the future, I can see a Hotel Lacoste, which would lead sports and wellbeing. I think it’s something where we really have a lot of potential.”