Lacoste Expands: Unveils First Latin American Concept Store in Medellín

Lacoste adds a new milestone to its strategy in the Americas. After strengthening its presence in the United States this year with a flagship store of close to 10,000 square feet at 575 Fifth Avenue in New York and with Mexico as a well-established market, where it operates 45 retail locations, the French brand has launched its first concept store in Latin America in Medellin.

Located in the Provenza neighborhood, the space is Lacoste’s first store under this concept in the region and third on a global scale, after Le Marais in Paris and Saint-Tropez. The format is conceived as an expanded showcase for the brand’s proposal, with a more transversal reading of the business.

The operation has been articulated in partnership with BMG (Brand Management Group). Based in Panama, the group operates as distributor of On, Crocs and Hoff in Latin America and has become Lacoste’s local partner to accelerate its deployment in Colombia.

“December has been a special month for Lacoste in Latin America,“ said Pedro Zannoni, CEO of Lacoste in Latin America, as he took stock of the year-end in the region. “We continue to expand with key openings in different markets,“ added the executive, who placed Colombia as one of the cornerstones of this progress.

Lacoste steps on the accelerator in Colombia and Brazil

In addition to having raised the shutter on its flagship store in Medellin, the French crocodile brand has just added a new store in Barranquilla, its first in the city, in collaboration with its local partners.

Brazil has also completed the other block of recent openings, with new stores in Iguatemi Esplanada (Sorocaba), Buriti Shopping Rio Verde (Goiânia) and Americana Shopping. “There is much more to come in 2026,“ Zannoni said of the brand’s expansion roadmap in the region.

The move in Colombia comes on the heels of the change at the top announced in the summer. Lacoste appointed Éric Vallat as its new CEO, effective September 1, replacing Thierry Guibert, who has led the brand since 2005.

Guibert retained, however, control of the corporate structure. He continues as CEO of MF Brands Group, Lacoste’s parent company, and of Maus Frères Group, the Swiss holding company that owns the brand.

In recent months, Lacoste has renewed its top management and strengthened its ambition for growth in the United States

Before joining Lacoste, Vallat was CEO of Rémy Cointreau. His career also includes responsibilities in the luxury world, with a stint at Richemont, as well as experience at Louis Vuitton in Europe and Dior Couture in Japan.

In parallel to the management change, the company has placed the United States at the center of its roadmap, with the opening of the flagship store on Fifth Avenue as one of the milestones of visibility and brand building in the U.S. market, where the company seeks to accelerate growth.

In Spain, Lacoste’s sales stagnated in the last fiscal year, but its profitability soared. Lacoste Ibérica closed 2024 with a turnover of 95.6 million euros and increased its operating profit by 49.2%, to 3.8 million, while profit fell by 30%, to 2.95 million, due to higher tax payments.

The subsidiary operates in the country with a network of 90 points of sale and corners, in addition to some thirty of its own stores, of which seven are outlets, and ten franchise stores. By channels, the company concentrated around half of its business in multi-brand stores and corners, with 40.3 million euros, followed by concessions, with 21.4 million, own stores, with 19.1 million, and outlets, with 14.8 million.

On a global scale, the brand kept the pulse of repositioning. Guibert forecast growth of 8% in 2024 and sales of close to 3 billion euros, with a model increasingly based on direct sales, around 70% of the business, and an operating margin of around 15%.

Beyond Lacoste, Guibert retains the helm of MF Brands Group, which recently sold The Kooples and holds Gant, Aigle and Tecnifibre in its portfolio. The holding company claims a turnover of 3.7 billion euros, with 2,400 stores and nearly 12,000 employees worldwide.