Word: siegel
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Lacoste's popularity at the Open--the elegant croc outcooled the oversized pony of official sponsor Polo in straight sets--was emblematic of the brand's astonishing turnaround over the past three years under the tutelage of Robert Siegel, who took over the company as a project for his retirement--or perhaps to avoid it. A self-proclaimed clotheshorse, Siegel had made a name for himself during his 29-year career at Levi Strauss, where he launched the hugely successful Dockers brand in 1986. Siegel left Levi's to run Stride Rite, then headed south to Charleston, S.C., to contemplate...
Like many other Americans, Siegel remembered a time when the ubiquitous French amphibian adorned the chests of the country-club set. Now, by developing hipper clothes and raising quality, he launched a Stateside comeback for a brand that was considered to be dead in the Atlantic. "To head Lacoste was a dream come true," Siegel says. "The brand is so powerful because of its heritage...
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...
...sponsorship deals Lacoste is making reflect its sporty heritage and retooled popularity. In April the company signed a rumored six-year, $30 million--plus contract with top U.S. tennis player Roddick. Lacoste has cleverly made itself a Hollywood favorite too. To add to the buzz, Siegel and his team have seeded the shirts with celebrities: Natalie Portman, Katie Couric and the cast of The O.C. are just a few who have donned the clothes on television and at high-profile events...
...When Siegel took the reins in 2002, the 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...