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French sportswear brand Le Coq Sportif posts slight revenue rise in H1 2019
Le Coq Sportif is right on track, its financial results constantly improving since 2017. In the first half of 2019, the French sportswear brand's revenue reached €58.5 million, up from the figure of €57.7 million recorded in the same period last year. Gross margin in the period also improved, rising from 48% to 51%. Net income in H1 was positive too, though the value was not disclosed.
Le Coq Sportif, which is owned by Swiss holding company Airesis, is forecasting a revenue of at least €135 million for the full 2019 financial year, with an EBITDA margin of at least 4%.
The brand’s growth is the result of its efforts on several fronts. “[Le Coq Sportif’s] strategy, based on market proximity and quick reaction times, has been extended to footwear products, which are now made in France and in Portugal,” said Airesis. The group also invested in powering up Le Coq Sportif’s e-tail capabilities, and is planning to launch a broader range of women’s apparel products in autumn 2019.
Le Coq Sportif is hoping to receive a sales boost from the Rugby Union World Cup due to be held in Japan from September 20 to November 2 this year. The brand is in fact once again the official kit supplier for the French national rugby union team, having signed a six-year contract. It is a valuable promotional opportunity, one that should enable Le Coq Sportif to energise its performance in the second half of the year.
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