Le Coq Sportif Saved Amid Controversy Surrounding Recovery Plan

The French rooster is reborn and opens a new chapter in its history, after months of uncertainty and tensions. The Paris commercial court has validated this Friday the award of Le Coq Sportif to the consortium led by the French-Swiss businessman Dan Mamane.

The ruling puts an end to a competition that had become a symbol of the struggle between two visions of rescue: the preservation of industrial activity in Romilly-sur-Seine and the search for new commercial horizons for the company, which has been in difficulties for years.

Founded in 1882 and recognized as the official supplier of the Paris Olympic and Paralympic Games last year, Le Coq Sportif had entered into bankruptcy proceedings of redressement judiciaire (equivalent to a bankruptcy in Spain) in November, dragging losses despite a punctual growth in sales.

In the first half of 2024, the banner raised its turnover by 30% to €82 million, but remained in the red with losses of €18 million. The full year 2023 closed with €121 million in sales and a negative result of €28 million, reflecting deteriorating margins and a limited market share outside France, despite its high brand recognition.

Le Coq Sportif will be led by French-Swiss entrepreneur Dan Mamane

Mamane’s winning bid beat the one presented by the consortium formed by Neopar, the American group Iconix, the businessman Xavier Niel, the judoka Teddy Riner and the Camuset family (historical founder of Le Coq Sportif) together with the current president of Airesis, Marc-Henri Beausire. This second block had promised to inject 60 million euros immediately, but denounced having been excluded from the process by the judicial administrators. According to the AFP agency, their lawyers have requested the reopening of the insolvency proceedings, considering the process “flawed” and favorable to Mamane from the outset, which has fuelled tensions in recent weeks.

In this context, the industrial stability of the Troyes region and Mamane’s experience in rescuing companies in crisis, after having rescued Conforama Suisse and the Ogier ski brand, have played in his favor. His plan envisages keeping the historic Romilly-sur-Seine factory, as well as preserving most of the 300 current jobs, a key argument for the commercial court and for the French Ministry of Economy itself, concerned about the social cost of an eventual liquidation.

To implement the new phase, Mamane will rely on Alexandre Fauvet, former CEO of Lacoste and co-founder of the also French Fusalp, who will take over the general management of Le Coq Sportif. Sources also point to the possible addition of Cédric Meston, head of Tupperware France, with the aim of strengthening operational management and accelerating the transformation of the business model.

The company now faces the challenge of modernizing its sales network, optimizing its cost structure and diversifying its international presence in a sports market dominated by giants such as Nike, Adidas and Puma. Despite having a powerful symbolic capital in France, boosted by its Olympic association, Le Coq Sportif is staking much of its future on its ability to reindustrialize its manufacturing, strengthen its global image and regain competitiveness.

Although the court decision seems to close the bankruptcy chapter, it is not ruled out that the rival consortium will try new legal avenues to challenge the award, which could prolong the uncertainty for several more weeks. For now, the 300 employees of Romilly-sur-Seine and the textile ecosystem of the Aube are clinging to the possibility of keeping their jobs and seeing the rebirth of one of the most cherished icons of French sport.