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Lacoste sets up exclusive shops after brand shift
French sportswear maker La Chemise Lacoste has tagged US$1 billion for a global rebranding effort to position itself as a fashion and lifestyle brand.
The rebranding and growth initiative -- which began with the brand's green and red alligator logo turning 'leaner and meaner' in 2002 for a more contemporary look -- will see Lacoste focus on exclusive boutique stores, which will involve closing down many existing stores and opening new ones, mostly in shopping malls. Over the years, Lacoste has also expanded its range of garments and introduced fashion accessories such as sunglasses, leather products and perfumes. While France remains its larrgest market, director Philippe Lacoste said the US, China and India are now priority markets for the brand. Replicating successes from other countries, however, won't be easy, added Lacoste. "India (where Lacoste has a 10-year presence) has such a strong background and culture that Indians have only now started to accept sportswear," he said. "In eight to 10 years China could be the biggest market," while India, Lacoste added, "in terms of volume, will be amongst our top five markets."
This article was first published on Media Asia
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