Word: brandings
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With a look that's classic, colorful and once again hip, its polos are go-to shirts for almost anyone. Since Siegel became CEO of Lacoste USA in January 2002, sales have grown 800%, and Lacoste worldwide has developed into a $1.8 billion brand globally. In 2004, U.S. sales increased a whopping 125% over the previous year, and by 2005 the U.S. had become Lacoste's top market. According to Siegel, 2005 is set to be Lacoste USA's most profitable year yet. "I credit the whole company for this success," says Marshal Cohen, chief analyst at the NPD group...
When Lacoste brought the shirts to the U.S. in the 1950s, they were a huge hit--the perfect preppie fashion statement--and their popularity lasted through the 1960s. But General Mills (as in cereals, not woolens) acquired the brand in 1969 during one of corporate America's periodically insane conglomerate phases and decided to combine Lacoste with another brand, Izod. The company got lucky, riding the preppie fashion wave in the 1980s. Then, desperate for sales growth, Big G cheapened the shirt, reduced the price to $35, and sold it everywhere, even to low-end stores like Wal-Mart. "They...
...partnered with clothing licensor Devanlay to buy back the U.S. rights in 1992, and then got out of town. Lacoste returned to Palm Beach and Bal Harbor, Fla., three years later and attempted to reclaim its upper-class cachet. But the next six years were a struggle for the brand...
...vintage preppie look was hitting fashion runways. Retro street wear such as Puma sneakers and Adidas tracksuits was suddenly the rage. And no one embodied old-fashioned preppie better than the cute green croc. With Gwyneth Paltrow sporting Lacoste in the movie The Royal Tenenbaums, the brand inched back...
Thus does the Disney ship set its new course. There's no telling if Chicken Little will be a hit that convinces Wall Street and mall rats alike that the old studio has a brand-new bag. It has a lot of catching up to do. Sony's animation division will release its first CG feature, Open Season, in 2006. Blue Sky and DreamWorks aren't going anywhere. And Pixar would be a fierce competitor. But if Disney thrives in CG, a little chicken shall lead it. And from now on, they hope, the sky's the limit. --With reporting...