A Lacoste loving blogger on Chicago Now wrote a post questioning the idea of fifty dollar Lacoste facemasks. However, the next day he had to write a new post announcing they had sold out. I guess most people didn’t agree that fifty dollars for three masks was too much. That crocodile logo doesn’t come for free, you know. See Chicago Now for more details.
Novak Djokovic And two other Lacoste tennis stars thanked COVID-19 workers in an Instagram post that announced that all the revenue from a new polo shirt called the “Merci Polo” would be donated to partners fighting COVID-19 including the Red Cross and Red Crescent. The “Merci Polo” has a red heart embroidered around the Lacoste Logo, and can be bought starting on June 1, 2020. See the Instagram post below:
Earlier this month, Lacoste USA’s chief financial officer Karine Sansot-Vincent sent a letter to its landlords announcing that it would seek to renegotiate leases as reducing costs would be “vital” to its “ability to be a viable company in the future.”
The letter, seen by The Real Deal, notes that the company has retained restructuring counsel at law firm Arent Fox and real estate advisory firm Keen-Summit Capital Partners to lead the restructuring of its leases with landlords across the country.
In the letter, Sansot-Vincent wrote that due to Covid-19 closures, “The existing retail business model is no longer sustainable. The essential purpose of our retail leases has been totally frustrated.”
Read more at the Real Deal.
Women’s Wear Daily reports:
Lacoste has begun reopening its U.S. boutiques and outlet location by implementing a slew of new operational guidelines. Eight locations throughout Texas were the first to reopen May 8, followed by additional stores in Florida, North Carolina and Ohio on May 15. Others will reopen as local mandates allow.
Lacoste is also taking two major steps to reassure customers. First, “each store will follow a cleaning and disinfecting process prior to opening and also mid-day” using a professional cleaning service. Secondly, Lacoste will be offering real-time data to their customers:
Customers will be able to scan QR codes within the retail stores that will give them live updates on how many times and when the retail store was last professionally cleaned and sanitized, as well as the store’s current capacity so it does not exceed its threshold.
Read more at Women’s Wear Daily.
TR Business reports that Lacoste has doubled their production of masks to 200,000 as part of their Covid-19 response:
Praising the work of its factory employees and ‘daily heroes’ in France and Argentina, Thierry Guibert, CEO, Lacoste said: “From the merchants in the Troyes region of France to the medical workers in the San Juan region of Argentina, our teams have been critical for the unprecedented production, allowing us to contribute to the protection of essential workers.
“I’d like to take this moment to express my gratitude to them and to all Lacoste teams around the world.”
Read more at TR Business.