Since the Chinese conglomerate Fosun announced that it wanted to open Club Med’s capital to new investors, speculation has been rife. Several groups came forward, the president of Club Med Henri Giscard d’Estaing was first tasked with leading the negotiations by his Chinese shareholder before being excluded from the process as Challenges revealed last December.
The discussions are now led by Anglo-Saxon representatives who report directly to the Fosun presidency. Perhaps out of spite, Giscard Junior recently resigned from his position as executive director, vice-chairman of the board of directors, member of the strategic committee and the environmental, social and governance committee of the board of directors of Fosun Tourism. He nevertheless remains co-general director and of course CEO of Club Med.
Read alsoClub Med: Fosun regains control over the opening of the capital
Considered a flagship of the French tourism industry and one of the most beautiful brands in the world in this sector, the company created by Gérard Blitz in 1950 and subsequently developed by Gilbert Trigano, never leaves anyone indifferent. Fosun would like to maintain a majority stake in the tour operator, favoring investors from geographic areas where Club Med wishes to develop such as the Middle East and America.
The Saudi fund looks at the file
According to information from Challenges, “the Elysée is pushing very hard for the Saudi Arabian fund”, testifies a person close to the matter. The Saudi Public Investment Fund (PIF), which weighs nearly 800 billion dollars and plans to reach 2,000 billion in 2030, is increasing its stakes in soft power activities: English football club Newcastle United, publishers of Electronic Arts games, Nintendo…
On the other hand, Bpifrance, that is to say the State, would also like to invite itself into the capital of a company which weighs very heavily in the economy of French ski resorts and therefore of the whole of the mountain.
A Lacoste store soon in China
But today here is a new candidate, affirms our colleagues from Les Echos. The Swiss family group Maus, known for having bought Lacoste around ten years ago and which also owns brands such as Gant, Aigle Kooples, Manor and Technofibres, is in the running.
This group led by Frenchman Thierry Guibert has incredibly boosted Lacoste, which crossed 2.5 billion euros in turnover, with growth of +26%. The brand, which opened a store in London and plans to set up shop on Fifth Avenue in New York, is also considering a store in Shanghai. Contacts with Fosun should not be difficult.
2024-01-19 06:15:12
#Lacoste #owner #eyes #Club #Med
