On May 7, Lacoste Melrose Place, the new concept store by French heritage brand Lacoste, revealed the next chapter of its retail narrative: Lacoste Country Club. According to the company, Lacoste looked to its own rich tennis history to create an elaborate and thoughtful retail experience, transporting shoppers to a destination that evokes the spirit of a luxurious yet inclusive Southern California country club. Jason Kim, senior vice-president of marketing for Lacoste U.S.A. said, “As we emerge out of the pandemic, consumers are looking for connectivity and community. I believe we’ll see more of a demand for physical interaction or experiences and cravings for in-person energy.”
The Lacoste Melrose Place store opened in March but will be reimagined about every six weeks with new product assortments and varying themes. Kim discussed the goal of creating the ultimate customer shopping experience which has sparked a recent invigoration around the brand with a new generation of consumers that are excited to see Lacoste with a fresh perspective, “We’ve been planning an exciting evolution for the brand that you’ll continue to see in the coming months and years. Lacoste Melrose Place is only the beginning.”
A celebrity table tennis event was held for the opening of the store. Kim said, “The idea of the table tennis tournament was to connect young Hollywood’s cultural tastemakers and influencers with Lacoste’s deep roots in tennis in a fun way, while remaining conscious of social distancing.” Guests who attended the event included Kehlani, Amrit and Miles Chamley-Watson amongst others who were dressed in the newest key looks from both the lifestyle and active collections. Lacoste plans to balance out new brand collaborations with hero collections. Recently, Lacoste debuted the Lacoste X Ricky Regal collection co-designed by Bruno Mars.
Product assortments available at Lacoste Country Club include exclusive pieces to be worn by Lacoste athletes at Roland Garros 2021, also known as the French Open. Kim said, “Consumers have been embracing the tennis lifestyle, but more recently, the younger generation has incorporated the tennis look into their streetwear style and we are tapping into that demand.”
The extensive shoe assortment includes the new Lacoste tennis shoe, AG-LT21 Ultra, worn at the Miami Open by Daniil Medvedev, currently ranked the number 3 tennis player in the world. The store also showcases a variety of Tecnifibre rackets, bags and accessories, including a limited-edition Lacoste branded L20 racket. A dedicated, complimentary racket stringing station will be available on-site for shoppers looking to take their newly purchased tennis fashion to the courts.
One of the most iconic logos in fashion history, the Lacoste crocodile has been a crossover sign between athleticism and fashion elegance. Kim said, “Lacoste is a brand with a rich history in tennis and golf, with our founder René Lacoste being a tennis champion himself.” The current design chapter, Lacoste Country Club, pays homage to its heritage and adds a southern California twist to connect with the LA community.
Since 1933, the brand has been a staple in the lives of men, women and children. The company was founded by René Lacoste, a tennis champion and ingenious inventor who designed the first polo shirt. He also invented the machine that fires tennis balls with calibrated force to help a player practice alone, a device that improved his game as well as that of generations of tennis players that followed. Lacoste filed thirty patents over his ninety-two-year lifespan.
Lacoste continues to reinvent itself as showcased by the new Country Club concept. Keeping both the tennis enthusiast and streetwear aficionado in mind, Lacoste Country Club will feature an updated modern assortment of casual wear alongside Lacoste’s Tennis Sport collection featuring pique tennis polos with wicking capabilities, technical performance shorts in stretchy taffeta, breathable stretch tennis skirts with built-in shorts, water-resistant track jackets practical for warm-up sessions, and more.
In April 2021, the innovative Lacoste U.S. flagship store located on Broadway in the SoHo neighborhood of New York City was opened featuring a new store design including a customization area, new product offerings through creative collaborations, unique design features and a heightened customer experience. At the entrance to the 4,660 square foot boutique, a dedicated footwear pop-up instantly transports customers to the courts with its unique installation and layout. The historic facade gives way to an open concept with an overall street feel and strong architectural elements with refined metal, concrete and wood finishes. Even the fitting rooms draw inspiration from a canister of freshly opened tennis balls.
The local architecture firm Design Republic supported the Paris-based Lacoste Architecture Design team in keeping with the New York meets Paris spirit. Kim stated, “With our first global concept store in LA at Melrose Place and our new flagship store in NYC in Soho, we’re working on showcasing a new side of Lacoste through creative immersion.”
In 2019, Lacoste had a strong performance with sales up almost 8% compared to the previous year. Gross margin has grown steadily for the past three years and operating profit has been strong, ending 2019 at 16% (2020 financials are not available). Return on assets, demonstrating how efficiently management uses its assets to generate profit, is a resounding 18% in an industry that hovers around 7.5%. Strong financial performance, newly designed store concepts to meet the needs of today’s consumer and continued innovation in both store experience and product assortment are evident in a company that has been around for over eight decades. Despite the covid challenges that many brands are facing, Lacoste is heavily investing in retail for 2021
