Airesis, the Swiss holding company that owns majority stakes in Le Coq Sportif and the Movement Group, reports that the French brand's sales increased by 7 percent to €108 million last year, up from €101 million in 2015. This was slightly below the earlier forecast of about €111 million, which Airesis attributed to a shift in orders worth about €2 million into the first quarter of 2017. Ebitda should amount to an operating loss of about €6 million, impacted by the shift of sales. The group says that 2016 has been a year of transition for Le Coq Sportif overall. It was marked by the completion of a textile development center in Romilly-sur-Seine, as well as the launch of retail corners that led to a strong uptick in apparel sales. The brand gained increased exposure through endorsement deals with Saint-Etienne and Fiorentina football clubs. Financing from banks has been stabilized, with mandatory convertible loans of €10 million to support growth. Marc-Henri Beausire, chief executive at Airesis and Le Coq Sportif, said in a statement that last year's achievements form a sound basis for profitable growth, and that the development of corners is very promising, in France as well as Spain and Italy. The business is expected to expand again this year, driven by a strong increase in apparel sales and a substantial improvement in margins. The group thus expects that the targeted break-even point is achievable.

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