Grupo Axo, a Mexican company controlled since 2017 by the US fund General Atlantic, finalized the purchase of Lacoste’s assets in Peru and Chile as part of its strategy to strengthen its presence in South America. The acquisition reinforces the firm’s portfolio, which includes more than 50 international brands and boasts a network of over 8,000 points of sale in the lifestyle, athletics & outdoors, and off-price categories.
The transaction is part of an agreement to incorporate Lacoste’s operations in Peru and Chile. In Peru, the seller was MF Brands Group International SAS; in Chile, the transaction included the distribution business for all Lacoste products, except the children’s line, sold by Vesubio Comercial y Textil Chile Limitada and Lacoste Operations. With this move, Grupo Axo expands its presence in two markets where the French brand already has a consolidated network of stores and a presence in department store chains, further strengthening its position in the region’s premium fashion segment.
The purchase of the assets in Peru was carried out by Komax Perú SAC, a subsidiary of Grupo Axo and distributor of brands such as Timberland, UGG, Banana Republic, Brooks Brothers, and Kipling. Although the contract was signed in December 2025, the transaction was formally completed on June 30, 2026, after the agreed-upon conditions precedent were met.
The acquisition is part of Grupo Axo’s regional expansion strategy. In Peru, its portfolio includes Banana Republic, Gap, Guess, Hydro Flask, Kipling, Sisi, Surprice, and The North Face, consolidating its presence in various market segments. Meanwhile, in Chile, the company manages more than 20 international brands, including The North Face, Guess, Abercrombie, Gap, and Brooks Brothers.
Lacoste currently operates ten stores in Chile and four in Peru, in addition to maintaining a presence in the Falabella and Ripley department store chains in both countries. With the acquisition of these assets, Grupo Axo seeks to strengthen its position in the premium fashion segment and expand its commercial reach in the region.
The acquisition aligns with Lacoste’s growth plan in Latin America. Over the past year, the company opened a flagship store in Bogotá’s Zona T and its first regional concept store in Medellín, Colombia. It also opened new stores in Brazil, located in Iguatemi Esplanada (Sorocaba), Buriti Shopping Rio Verde (Goiânia), and Americana Shopping, reinforcing its expansion in one of its key markets.
Legal Advisors
Axo Group Advisors:
- In-house lawyers: Thor Dimas and Carla Revilla.
- Rebaza, Alcázar & De Las Casas (Peru): Partners Felipe Boisset and Magaly Varela. Senior Associate Rafael Santin. Associate Álvaro Luna Victoria.
- Barros & Errázuriz (Chile): Partners Carlos Ducci and Francisco Bórquez. Senior Associates Martín Errázuriz and Catalina Villalobos. Associates Carol Urzúa and Ignacio Momberg.
Advisors of MF Brands Group International SAS (seller in Peru):
- Estudio Rodrigo: Partners Juan Diego de Vinatea and José Talledo. Advisor Fiorella Monge. Associates Juan Acuña and Santiago Montes de Oca.
Vesubio Comercial y Textil and Lacoste Operations Advisors (salespeople in Chile):
- Carey: Partners Jorge Ugarte, Matías Vergara, Manuel José Garcés and José Pardo. Advisor Valentina Kuscevic. Associates Gonzalo Soto, Matías Granic, Óscar Lizana, Martín Zúñiga and Francisco León.
