Lacoste family at war over a mooted sale to the Swiss
Tuesday 06 November 2012
The family behind Lacoste, the famous French casualwear brand, is at war over the possible sale of the label to Swiss investors.
Michel Lacoste, the son of tennis ace René, agreed to sell his stake to Swiss giant Maus Frères, which already owns 35 per cent of the group and its licensing business Devanlay, last month.
But his daughter Sophie Lacoste-Dournel, pictured, who took over as chairman in September against her father's wishes, wants to keep control of the brand. Michel, a former chairman, and his niece Beryl have agreed the sale of 30.3 per cent of the company for €400m (£320m) to Maus.
But the family's shareholding structure means Sophie has a pre-emptive right to buy the stake and has until 12 November to raise the money and keep the business in the family.
The crisis is the latest chapter in a long-running family feud over the future of the business.
Lacoste was founded in 1933 by René. It sells more than 13.8 million polo shirts a year.
- 1 The truth about 'girl things': Three cheers for Heather Watson's honesty
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 5 Men behaving badly: Urinating while standing, 'manspreading' and the gendering of selfishness
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
UK weather: Snow to fall during coming week with sub-zero temperatures to last until early February
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign
Ellen DeGeneres leads Johnny Depp, Gwyneth Paltrow and Paul Bettany in revealing game of Never Have I Ever
Nigel Farage: NHS might have to be replaced by private health insurance
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
British Muslim school children suffering a backlash of abuse following Paris attacks
George Galloway condemns 'racist, Islamophobic, hypocritical rag' Charlie Hebdo at freedom of speech rally
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
iJobs Money & Business
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...
£16000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...
£45000 - £47000 per annum + bonus + benefits: Ashdown Group: Java Developer / ...
£35000 - £38000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...