French luxury lifestyle brand Lacoste dismissed Chief Executive Éric Vallat shortly before its Paris Fashion Week runway show last week.
A Lacoste spokesperson confirmed the dismissal to Reuters and said Thierry Guibert, who led the brand for a decade before Vallat’s arrival, would return as CEO. Guibert also heads Maus Frères, Lacoste’s Swiss parent company.
Vallat, who started at Lacoste in September last year, previously led high-end spirits business Rémy Cointreau. Prior to this, he spent a year at luxury group Richemont, owners of Alaïa and Chloé, where he was Head of the Fashion & Accessories Maisons and a Member of the Group Senior Executive Committee.
Lacoste appointed Vallat as part of its premiumisation push to move the brand upmarket and reduce lower-margin wholesale. The company said it would continue its strategy following the leadership change, but did not explain the reason for Vallat’s departure.
Two sources familiar with the dismissal said Lacoste’s performance had not prompted the decision. The unlisted business is targeting €4 billion in annual sales by 2028-2030.
The news follows Lacoste’s recent tennis-led activity, including its second Novak Djokovic GOAT capsule, which launched in June while Vallat was CEO. The 11-piece collection replaced the brand’s crocodile logo with a goat, while its gold-emblem polo was limited to 100 units and sold exclusively at its Regent Street store.
