Le Coq Sportif outfitted the Paris Olympics — then went bankrupt 3 months later

Le Coq Sportif was founded in 1882 and became one of France's most iconic sportswear brands, supplying Olympic teams and football clubs for over a century. In 2024, it was the official outfitter of the Paris Olympic and Paralympic Games — the highest-profile endorsement a French brand could receive. Yet just three months after the Games closed, the company entered receivership.

The financials told a grim story beneath the Olympic glow. Full-year 2023 revenue was €121 million with a loss of €28 million. In the first half of 2024, revenue grew 30% to €82 million — partly thanks to Olympic orders — but losses remained at €18 million. The company had been owned since 2005 by Swiss parent Airesis, which held a 75% stake, but years of narrow margins, limited international presence, and rising costs had eroded the balance sheet.

A legal dispute with the French Rugby Federation over an unpaid €5.3 million kit deal compounded the pressure. The state granted a €12.5 million emergency loan through BPI France in July 2024, and Paris 2024 organisers provided a €2.9 million loan — but neither was enough. In November 2024, the Paris Commercial Court placed Le Coq Sportif in receivership (redressement judiciaire) with a six-month observation period.

For seven months, the brand's future hung in the balance. Two rival bids emerged: one from a consortium led by French-Swiss entrepreneur Dan Mamane, backed by the Mirabaud Patrimoine Vivant fund, and another from Neopar allied with Xavier Niel, Teddy Riner, and the Camuset family. On July 4, 2025, the court awarded Le Coq Sportif to Mamane, whose €70 million plan promised to preserve the historic Romilly-sur-Seine factory and most of its 300 jobs. Alexandre Fauvet, former Lacoste CEO, took over as general manager. The plan targets €300 million in revenue by 2030.