Le Coq Sportif

"The two came to a secret agreement. In the eyes of the Dassler family, Adidas France owned just 49 percent of Le Coq Sportif. But André Guelfi gave 2 percent of his own package to Horst, and granted him an option to acquire the remaining 49 percent at any time. The 2 percent and the option were issued to Horst person- ally, as opposed to Adidas. In other words, unbeknownst to his family, Horst had taken over control of Le Cog Sportif. The agree- ment marked the beginning of an intense partnership between the two men."

"The move that proved most devastating for Le Coq Sportif, however, was orchestrated by the Camusets themselves. Weak- ened by heightened competition from the early seventies, they still decided to invest massively to expand their production. They acquired one plant and started constructing another one in Romilly. But under attack from Adidas, Le Cog Sportif contin- ued to lose ground in the market. They were up to their necks in debt and stock, as the thousands of products turned out by the new factories remained unsold. By March 1974, Le Cog Sportif was besieged by anxious creditors. One month later the Camusets were expelled from the company, and a court-appointed manager led the search for takeover candidates."