Whereas it’s a troublesome second for trend, the sector nonetheless can siphon govt expertise from different industries.

WWD has discovered that Éric Vallat, chief govt officer of Rémy Cointreau Group, is to affix Lacoste as CEO.

Contacted on Friday, Lacoste confirmed his appointment, efficient Sept. 1, and stated Vallat would succeed Thierry Guibert, who has served as CEO of Lacoste since 2015.

Guibert is to proceed in his position as CEO of Lacoste dad or mum MF Manufacturers Group and of Maus Frères Group, which additionally controls the style manufacturers Gant, Aigle and Technifibre along with department shops, supermarkets and buying malls.

An official announcement is anticipated as early as Friday.

In a press release shared solely with WWD, Guibert stated: “I’ve had the privilege of main Lacoste for over a decade, surrounded by outstanding groups, and of supporting the profound transformation that has
taken the model into a completely new dimension. I’ve now chosen to refocus my position on main the group.”

In accordance with market sources, Lacoste has tripled in dimension over the previous decade, with revenues stated to be approaching 3 billion euros.

The model has ramped up worldwide growth, strengthened its premium standing and leveraged its positioning on the intersection of trend and sports activities.

Guibert lauded Vallat as a “daring chief” with a powerful observe report who will “construct on the momentum we’ve created, with the identical excessive requirements and collective spirit, and information Lacoste into a brand new chapter of progress, true to its id whereas persevering with to maneuver confidently ahead.”

“His sharp experience and confirmed expertise will likely be main belongings in persevering with to unlock the
model’s full potential,” Guibert added, noting that “as CEO of MF Manufacturers Group, I’ll in fact stay by his facet to help him via this new section.”

Earlier this yr Vallat submitted his resignation at Rémy Cointreau Group after greater than 5 years on the helm. He “has determined to commit himself to a brand new profession,” in keeping with a press launch issued by the corporate final April.

Vallat isn’t any stranger to trend. Earlier than rejoining Rémy Cointreau Group in December 2019 – he was CEO of Rémy Martin between 2014 and 2019 – Vallat logged almost two years as head of trend and equipment maisons at Richemont.

He has additionally labored for Louis Vuitton in Europe, Christian Dior Couture in Japan, Bonpoint and J.M. Weston.

Govt strikes throughout industries have gotten extra commonplace. Earlier this month, Kering introduced that Renault Group’s Luca de Meo, who spent his total profession at carmakers, would succeed Francois-Henri Pinault as its new CEO efficient Sept. 15, with Pinault retaining the chairman title.