There's something special about Lacoste, more than just its famous Crocodile logo. The French sportswear label has evolved into a must-watch brand, shedding any sense of staidness in favor of fashion-forward style experiments. This transformation is largely attributed to Louise Trotter, who became Lacoste's first female creative director in 2018.
No longer solely recognized for its polo shirts, Lacoste under Trotter has introduced titanic layering pieces, collaborations, and revamped its iconic logo more than once. The result is a brand that appeals to both loyal enthusiasts and a new, street-savvy clientele.
The classic Lacoste polo shirt, a symbol of the brand's heritage.
From Tennis Court to Global Icon
Lacoste S.A. was founded in 1933 by tennis player René Lacoste and entrepreneur André Gillier. The company is known for its clothing, footwear, sportswear, eyewear, leather goods, perfume, towels, and watches, all distinguished by the green Crocodile logo.
The nickname "the Crocodile" was given to René Lacoste by the American press after he bet his team captain a crocodile-skin suitcase that he would win his match. In 1933, René Lacoste founded La Chemise Lacoste with André Gillier, producing the revolutionary tennis shirt Lacoste had designed and worn, featuring the crocodile logo embroidered on the chest.
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The company claims this as the first instance of a brand name appearing on the outside of an article of clothing.
История создания Lacoste Face story
René Lacoste, the founder of Lacoste, on the tennis court.
The Evolution of Design and Branding
In 2001, French designer Christophe Lemaire was hired to create a more modern, upscale look at Lacoste. Almost 50 million Lacoste products were sold in over 110 countries in 2005. The brand's visibility has increased through contracts with several tennis players, including Andy Roddick, John Isner, Richard Gasquet, and Stanislas Wawrinka.
Under the leadership of CEO Thierry Guibert, Lacoste regained control of its distribution networks to better manage the brand image and pricing. Lacoste also bought back licenses for its shoes, leather goods, and undergarments.
Lacoste in South Africa: Opportunities and Challenges
South Africa reigns supreme on the continent when it comes to winning over international luxury brands. The country is home to some of the biggest names in fashion, including Ferragamo, Louis Vuitton, Dior and Gucci, who have all opened stores in South Africa over the last decade.
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The African market holds a lot of potential for luxury brands, particularly South Africa, which has a youthful population and makes up a significant portion of the African luxury category. Sixty-two per cent of consumers in Sub-Saharan Africa are under the age of 25, according to Euromonitor International.
Individual wealth in South Africa is increasing. By 2040, South Africa is projected to host 2 per cent more consumers with incomes surpassing $250,000 compared to Nigeria. The number of consumers with a total net wealth over $5 million is forecast to increase 28 per cent by 2030.
According to Euromonitor, the retail value of personal luxury in South Africa is set to see the biggest increase among other African countries, with 7 per cent growth from 2022 to 2027.
Key Locations and Consumer Trends
Researchers predict that Cape Town will overtake Johannesburg and become Africa’s wealthiest city by 2030, marking it out as a luxury hotspot of the future. Most international luxury brands with a presence in South Africa have stores in both locations.
Cape Town is home to local independent retailers like Merchants On Long, as well as major shopping malls such as the V&A Waterfront, which houses names like Zegna and Diesel. In Johannesburg, the Sandton City mall is a popular shopping destination, housing stores for brands including Louis Vuitton, Gucci and Dolce & Gabbana.
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While Johannesburg and Cape Town remain the key shopping hotspots in South Africa, there are some interesting retail and luxury real estate developments taking place in areas like Pretoria and Durban, thanks to growing wealth and investment. Durban is the third most populated city, behind Cape Town and Johannesburg. With a good proportion of HNWIs, luxury brands are growing their presence in the city. Many are opening stores in Oceans Mall, a luxury shopping mall near the beachfront, including Gucci.
Oceans Mall in Durban, a growing luxury shopping destination.
Challenges and Opportunities
The state of South Africa’s economy continues to fluctuate, making it a difficult market for brands to break into with ease. Socio-economic factors, including rising inflation, booming energy and food prices, and heightened economic uncertainties have significantly impacted consumer spending on luxury goods.
Load shedding - national blackouts of electricity supply that have been ongoing in South Africa for decades - continues to be a problem for brands across South Africa. Finding the right real estate outside of the major shopping malls is also difficult.
E-commerce vs. Brick-and-Mortar
Shopping malls play a crucial role in keeping South Africa’s fashion economy alive. Across the three major cities, shopping malls dominate retail. The experience of purchasing luxury items in-store massively outweighs an online transaction.
Barriers to digital transformation remain high, including logistics costs, distribution issues, and a lack of trust in online shopping. South African consumers are more geared towards going in-store and holding the bag… that whole experience of being in the store and being served champagne, wine.
A store can help brands build and strengthen their community. Mike Amiri says a recent pop-up in Johannesburg helped the brand physically connect with South African creatives while also creating a touch point for new consumers.
Conclusion
Lacoste’s journey from a niche sportswear brand to a global fashion icon illustrates the power of branding and heritage in the fashion industry. The green alligator logo, rooted in René Lacoste’s personal story, symbolizes the brand’s commitment to luxury, exclusivity, and high-quality products. As Lacoste continues to innovate and expand its product range, it remains a testament to the enduring influence of its founder and the significance of a strong, distinctive brand identity.
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