Lacoste heirs take control of Fusalp

Philippe and Sophie Lacoste have worn their entrepreneur’s hat yet again to Fusalp. The Lacoste heirs have bought a

control stake in the alpine wear brand from Swiss group Maus Frères.

On December 20, they acquired 77.6 percent of the capital of a company that last reported a 8 million euro turnover.

Fauvet Alexander, former executive director of Lacoste and new managing director at Fusalp will own 8 percent of the remaining 12.4 percent stake which has been held since June 2013 by the company management Toulouse Midi Capital. The remaining 2 percent is in the hands of a private investor.

"Over the past year, we were looking for investment opportunities,” explains Philippe Lacoste commenting the acquisition. “Sophie and I were planning to do something together, " he added on his choice of a partner. “We also had to turn the page of the Lacoste brand. Others will now write the history of Lacoste says Philippe Lacoste. We must wish them luck, because many people depend on it. This is a break to which we definitely look forward to," ‘Le Figaro’ quoted Lacoste brother to say.

Last summer, Joel Gleyze, CEO and owner of 98 percent stake in Fusalp - where he worked for 36 years - looking for partners to revive the brand and to re-focus it on foreign markets. The 12.4 percent assigned to it by Midi Capital looked to be insufficient. During his fundraising efforts he met Alexander Fauvet, former executive vice president of Lacoste, who presented the case to Sophie and Philippe in June.

"I had not planned to sell, but all conditions were met,” said Joel Gleyze to French press.

"We will immerse ourselves in the company, to audit production and distribution. We will focus on collections; the first will be the Fall/Winter 2015-2016, with the idea of bringing the collections of urban clothing casual wear," the Lacoste siblings assured when the deal was made public.

Joel Gleyze is relieved. "Given the number of French ski brands owned by foreign groups; I am glad to see Fusalp taken by Philippe and Sophie Lacoste. They will continue my efforts to export and strengthen the ready- to-wear.”