PARIS, France — Lacoste SA, the French clothing maker known for its crocodile logo, signed a five-year sponsorship agreement with the Miami Open tennis tournament as it tries to boost sales in its biggest market.
Lacoste generates about 40 percent of revenue in the U.S., with Florida its biggest market with 15 stores, Berta de Pablos, Lacoste vice president branding and communication, said in an interview.
The agreement with the Miami Open, an annual event that attracts 300,000 spectators, may add “between 20 and 30 percent,” in sales in Florida alone over the next two years, De Pablos added. She declined to disclose financial details.
Lacoste will become the official tennis, clothing and footwear outfitter of the event starting next year. It will also open shops on site for the first time outside of the four Grand Slam championships.
Held at the Crandon Park Tennis Center on Key Biscayne, the two-week Miami Open — a combined event for the top players on both the men’s and women’s tennis tours — is owned and operated by talent agency IMG Worldwide Inc.
Lacoste, which was bought by Swiss retail-investment company Maus Freres in 2012, is the third global brand to join the Miami Open as a partner this year after Brazilian bank Itau Unibanco Holding SA and MasterCard.
By Danielle Rossingh; editors: Christopher Elser, Sara Marley.