While it’s a tough moment for fashion, the sector still can siphon executive talent from other industries.
WWD has learned that Éric Vallat, chief executive officer of Rémy Cointreau Group, is to join Lacoste as CEO.
Contacted on Friday, Lacoste confirmed his appointment, effective Sept. 1, and said Vallat would succeed Thierry Guibert, who has served as CEO of Lacoste since 2015.
Guibert is to continue in his role as CEO of Lacoste parent MF Brands Group and of Maus Frères Group, which also controls the fashion brands Gant, Aigle and Technifibre in addition to department stores, supermarkets and shopping malls.
An official announcement is expected as early as Friday.
In a statement shared exclusively with WWD, Guibert said: “I’ve had the privilege of leading Lacoste for over a decade, surrounded by remarkable teams, and of supporting the profound transformation that has
taken the brand into an entirely new dimension. I have now chosen to refocus my role on leading the group.”
According to market sources, Lacoste has tripled in size over the past decade, with revenues said to be approaching 3 billion euros.
The brand has ramped up international expansion, reinforced its premium status and leveraged its positioning at the intersection of fashion and sports.
Guibert lauded Vallat as a “bold leader” with a strong track record who will “build on the momentum we’ve created, with the same high standards and collective spirit, and guide Lacoste into a new chapter of growth, true to its identity while continuing to move confidently forward.”
“His sharp expertise and proven experience will be major assets in continuing to unlock the
brand’s full potential,” Guibert added, noting that “as CEO of MF Brands Group, I will of course remain by his side to support him through this new phase.”
Earlier this year Vallat submitted his resignation at Rémy Cointreau Group after more than five years at the helm. He “has decided to devote himself to a new career,” according to a press release issued by the company last April.
Vallat is no stranger to fashion. Before rejoining Rémy Cointreau Group in December 2019 – he was CEO of Rémy Martin between 2014 and 2019 – Vallat logged nearly two years as head of fashion and accessories maisons at Richemont.
He has also worked for Louis Vuitton in Europe, Christian Dior Couture in Japan, Bonpoint and J.M. Weston.
Executive moves across industries are becoming more commonplace. Earlier this month, Kering announced that Renault Group’s Luca de Meo, who spent his entire career at carmakers, would succeed Francois-Henri Pinault as its new CEO effective Sept. 15, with Pinault retaining the chairman title.