Bafana Bafana and Banyana Banyana’s kit deal with French firm Le Coq Sportif is safe, at least for now, even after the parent company ran into financial problems in France.
Le Coq Sportif has been placed under a receivership with a six-month observation period due to heavy losses that have left the company at the risk of bankruptcy but its South African wing is not panicking just yet.
SAFA signed a six-year deal with French firm Le Coq Sportif during the COVID-19 period in 2020 with the contract set to run out after the 2026 World Cup and the firm remains confident that the deal will run its course despite the problems in France.
“You have to understand French law, [where] if you say they're bankrupt their chapter 11 is something very different. South Africans don't understand [the French] chapter 11, but it is similar to restructuring a business,” Le Coq Sportif South Africa sales director Roger Noades told TimesLIVE on Tuesday.
Will the issues in France spill over to RSA?
“Pre-Covid-19 I think the French office went out and spent millions of euros on the Olympic Games and brought fantastic coverage for the French flag. Then they had French rugby, but I think, yes, there were some outstanding payments to people. I think at the end of January, they will have another important meeting and another one at the end of February.
“Le Coq Sportif was established in 1870 and it's the oldest [sports] brand in the world. The French are extremely patriotic people and there is no way they will let this brand slip globally.
“In South Africa, my licence allows me to operate independently from the French [company]. So, with Le Coq Sportif SA I've got a licence and I source my products from Madagascar, Mauritius, Durban and China.
Noades says South African wing is healthy
“For footwear, I don't get my own shoes, I don't go through the entire process. I get things through the [Le Coq] managers but I'm an independent entity from what the French are going through.”
In France, Le Coq Sportif is in financial problems after years of losses even after obtaining loans from the Paris 2024 Olympics Organising Committee and French government while its former partner French Rugby is seeking €5.3 million (R102 million) from them.
However, Noades maintains his arm of the company is doing well and there is no cause for alarm.
“Don't get me confused with the trouble the French are going through because I've got 53 retail shops in South Africa and in November and December, I was 40% up on sales. So, I'm happy,” he added.
Le Coq Sportif’s SA teams are doing well
“Everything is 100% [with the deal with SAFA]. Not just SAFA, but also with Stellenbosch FC. Everything is hunky-dory.”
In South Africa, Le Coq Sportif have gotten value for their money as their period of association with SAFA has coincided with Banyana Banyana winning their maiden Africa Women’s Cup of Nations in 2022 and made it past the group stages of the 2023 Women’s World Cup.
Meanwhile, Bafana Bafana finished third at the 2023 Africa Cup of Nations, have qualified for the 2025 tournament and are in contention for a World Cup ticket while Stellenbosch are in the CAF Confederation Cup quarter-final while challenging for a top four place in the PSL.
