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LONDON – Lacoste is betting on bigger and better retail stores to drive its next phase of growth. This week, the French heritage brand, known for its crocodile-emblazoned Pique Polos, opened the doors to a new 900 square meter flagship on London’s Regent Street.
It is the second store to adopt the new brand’s “Lacoste Arena” concept, which aims to present a wider product offering to shoppers in larger and more experiential spaces. The London store will be the first to offer shoppers a selection of Lacoste-licensed fragrances, jewelry and watches under one roof, said deputy chief executive Catherine Spindler.
Last year, Lacoste presented the new format in a 1,600 square meter space on the Champs-Élysées in Paris.
“It’s very new for us, because we usually have smaller stores,” Spindler said. “[The new format is] The best way to properly describe and include all the different categories.
The opening of the New York “Arena” flagship is already scheduled for next year. Starting with Asian markets, more will follow in other international cities, Spindler said. Following the success of its six-month Ibiza spot last summer, the brand is planning more seasonal pop-ups. “Physical retail is really back, and we think it’s a trend that’s going to last,” Spindler said.
The retail strategy is part of a plan to expand Lacoste, which is owned by Swiss holding group Maus Frères, to annual revenues of more than 4 billion euros by 2026, Spindler said; Since the end of the pandemic, the revival of physical retail has helped propel the brand forward, she said, with sales hitting the 2.5 billion euro mark last year, up 26 percent year-on-year.
The current fashion cycle has worked in its favor, too: A broader nostalgia trend among Gen Z and millennial consumers is appealing to retro sportswear, which has helped Lacoste recruit a new, younger audience, Spindler said.
Meanwhile, former creative director Louise Trotter, who left the label in January, has boosted Lacoste’s image and made significant progress during her four-year tenure. She also reinvigorated the brand’s underpinning women’s pants category and helped develop a more creative identity by pushing more sophisticated materials and color palettes into the collections.
Going forward, the brand sees the potential to further grow its womenswear business, as well as its footwear and technical sports lines under the leadership of new Creative Design Director Pelagia Kolotouros. Kolotouros, whose career includes North Face and Adidas, will lead a new “joint studio” that regularly works with a variety of foreign designers and other creatives, Spindler said.
A new retail concept designed to better define these categories will be an important part of the strategy to drive success. Shoes in particular are front and center in the London store, where a huge wall display pushes the new L003 sneakers and technical tennis shoes.
Elsewhere, there are many things for visitors to interact with. The back of the store features a revolving concept space, currently lined with retro slot machines to promote its tie-in with Netflix and the series “Stranger Things.” Upstairs, shoppers can customize their polos with a monogram and a specific crocodile symbol of their choice.
“We really think physical retail is a question of experience. [its] The ability to surprise people,” Spindler said. “We have to keep our authenticity, but we have to keep reinventing ourselves and surprising people.”
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