Le Coq Sportif Renewed as Supplier for French Olympic Team Until 2026
Le Coq Sportif, the iconic French sportswear brand, has been officially renewed as the supplier for the French Olympic and Paralympic teams until 2026. This announcement was made by the French Olympic Committee (CNOSF) on October 15, 2024. The company will be responsible for producing nearly 60,000 performance outfits, including a unique collection for the upcoming 2026 Winter Olympics in Milan-Cortina. This renewal comes on the heels of a tumultuous period leading up to the Paris Olympics, where there were significant concerns regarding the timely delivery of the athletes' outfits. Thankfully, all competition gear was delivered just in time, alleviating fears that had plagued CNOSF executives.
Despite the successful delivery before the Paris Games, the decision to extend Le Coq Sportif's contract might seem surprising given the brand's recent struggles with financial difficulties and production delays. The company, which employs around 360 people, including over 140 in its factory in Romilly-sur-Seine, will now prepare to equip the French delegations for nine upcoming international competitions, culminating with the Youth Olympic Games (YOG) in Senegal in November 2026.
Financial Challenges and Support for Le Coq Sportif
Le Coq Sportif has faced numerous challenges over the years, including a significant drop in turnover and ongoing financial instability. In 2023, the company reported a staggering loss of over 28.25 million euros, with its turnover plummeting from 20 million euros to 121.4 million euros. These financial woes have been attributed to rising costs associated with energy, transport, and raw materials, exacerbated by the economic fallout from the conflict in Ukraine. The French government stepped in to assist, providing a guaranteed loan of 10 million euros in 2023 as part of its economic recovery plan.
Additionally, the brand's parent company, Airesis, received a 3 million euro loan from the Olympic organizing committee to help meet the urgent demands of the Paris Olympics. Despite these efforts, Le Coq Sportif's financial health remains precarious, highlighted by a recent legal dispute with the French Rugby Federation (FFR), which is seeking 5.5 million euros in unpaid debts after ending its partnership with the brand.
