Two contenders are vying to acquire Le Coq Sportif, the iconic French sportswear brand currently under court-ordered financial restructuring. After six months of uncertainty, the future of the century-old company may soon be determined.
A high-profile consortium including French telecom mogul Xavier Niel and the U.S.-based Iconix Group (owner of brands like Umbro and Lee Cooper) has submitted a takeover proposal worth €60 million. The offer, according to a statement released on Wednesday, aims to revitalize the brand by returning it to its roots as “accessible and popular” while also expanding its global reach.
The financial structure of the bid reveals a strategic alliance: 51% of the offer is led by Neopar, an investment firm known for corporate turnarounds and owned by the Poitrinal family. Another 26.5% comes from a collective of investors that includes Xavier Niel, several athletes, and former Le Coq Sportif executives. The remaining 22.5% is backed by Iconix Group, a major player in global apparel branding.
The consortium has committed to injecting the full €60 million immediately upon acquisition, a detail confirmed to AFP. The statement also notes that the proposal has received strong support from retail giant Intersport and a wide network of multi-brand distributors, signaling confidence in the relaunch plan.
But the group faces competition. According to Les Echos, a rival offer has been submitted by Franco-Swiss businessman Dan Mamane. Known for acquiring and later selling the Swiss operations of retail chain Conforama, Mamane also acquired a stake in luxury ski-wear brand Ogier in late 2024. His growing presence in the fashion sector makes him a serious contender.
Back in March, the Grand Est regional authority confirmed that two potential buyers had emerged for Le Coq Sportif—one of which was supported by the French government. In an effort to facilitate the recovery process, the region agreed to write off 50% of its outstanding claims against the company.
Founded in Romilly-sur-Seine (Aube), Le Coq Sportif employs around 300 people in France and remains a symbol of national pride. The brand was also the official outfitter for the French delegation at the Paris 2024 Olympic Games.
However, its financial situation is dire. Le Coq Sportif reportedly owes between €60 million and €70 million to public entities. This includes €42 million in loans granted by the French state, as confirmed by the Grand Est region.
With two strong contenders and significant financial backing in play, the fate of Le Coq Sportif now rests in the hands of the commercial court, which must choose the bid most capable of ensuring the brand’s long-term revival—both in France and abroad.