Lacoste's chairman sued to annul his daughter's appointment, then both sides of the family sold to the Swiss partner

René Lacoste, the tennis champion, founded the Lacoste brand in 1933. In 2005 his son Michel Lacoste replaced his brother Bernard as chief executive, and Michel's daughter Sophie Lacoste-Dournel joined the board. In 2011 sales to retailers reached €1.6 billion. The Swiss group Maus Frères owned 35 percent and had three voting seats on the board. In September 2012 the board did not renew Michel's mandate as chairman. A newly elected board named Sophie non-executive president. Michel called it an "irregular" decision by an "irregular" board and asked a court to annul her appointment. He said Maus had persuaded half the family to ally with it. Patrick Thomas, head of Hermès, gave up his independent seat. On 26 October 2012 Maus bought the 30.3 percent held by Michel and the heirs allied with him. On 7 November 2012 Sophie and her group, holding 28 percent, said they would sell on the same terms. She said financing a counter-offer had become very complicated. Le Figaro reported the offer valued Lacoste at €1 billion to €1.5 billion. The sale left Maus Frères with nearly all of the capital, and the crocodile brand left family hands after 79 years.