Sporting rooster's management hands over to Franco-Swiss entrepreneur Dan Mamane; previous leaders Niel and Riner step down
In a significant move for the French sports apparel industry, Dan Mamane, a renowned Franco-Swiss businessman based in Dubai, has been appointed as the new owner of Le Coq Sportif. The decision was made by the Paris Commercial Court on July 4, 2022.
Le Coq Sportif, a brand with a rich history dating back to 1882, has been facing financial challenges. The company has been struggling with debts of between 60 and 70 million euros, losses of 28.2 million euros in 2023, and a dispute with the French Rugby Federation over 5.3 million euros.
Mamane, known for his successful business turnaround strategies, is no stranger to taking on struggling companies. He gained significant recognition for his role in revitalizing Conforama Suisse, a major Swiss retailer, which he managed to debt-free in just three years.
In the case of Le Coq Sportif, Mamane's plan involves injecting significant capital into the company to support its operations and maintain jobs at the brand's headquarters in Troyes, France. The bid is supported by a consortium that includes investors and Neopar, an investment company specializing in company turnarounds.
The factory where a portion of the workforce is based is located in Romilly-sur-Seine (Aube). The company, which currently employs approximately 360 people, recently dressed the French delegation at the Paris Olympics.
Mamane's approach to company turnarounds often involves strategic restructuring and financial management, leveraging his experience in multiple sectors to drive successful transformations. The takeover marks a new chapter for Le Coq Sportif, offering hope for a brighter future for the iconic French brand.
It is important to note that no new information about the specific terms of Dan Mamane's takeover was provided in this announcement. As the story unfolds, more details about the future of Le Coq Sportif under new ownership are expected to emerge.
In conclusion, Dan Mamane's acquisition of Le Coq Sportif is a testament to his business acumen and a promising sign for the future of the French sports apparel brand. With Mamane at the helm, Le Coq Sportif is poised to overcome its current financial challenges and return to its position as a leading player in the global sports apparel market.
Football and sports are likely to be prioritized under Dan Mamane's tenure at Le Coq Sportif, given its rich history in these sectors. Mamane's strategic restructuring and financial management strategies could lead to a revitalization of Le Coq Sportif's football and sports apparel lines.
