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.
elephant appealThe first 23 lots in our charity auction have now gone. But there are 22 more still up for grabs
Look beyond the usual shows for the best festive telly
Geoffrey Macnab does not like the comedian's big screen debut
The battle for control of Stieg Larsson's £30m legacy
Ten best places to live in the UK: Hart in Hampshire takes top spot
French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
David Cameron takes his biggest gamble yet as he gets tough on Europe over immigration
Burglar steals video tapes of child abuse, hands them into police
Paul Walker's daughter Meadow attends Justin Bieber Believe premiere
- 1 Tim Sherwood challenges Daniel Levy to set out vision for Tottenham Hotspur’s future
- 2 French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
- 3 Sun will 'flip upside down' within weeks, says Nasa
- 4 #Teamnigella: It’s the only side to be on
- 5 Christmas comes early: Justin Bieber is 'retiring from music'
- < Previous
- Next >
iJobs Money & Business
£59999 - £80001 per annum + Benefits: Pro-Recruitment Group: A Top 10 firm in ...
£50000 - £75000 per annum + benefits + bonus: Harrington Starr: Project Manage...
£60000 - £90000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£Negotiable: Citifocus: High calibre individual with institutional client serv...