Lagardère Group
| Company type | Société Anonyme |
|---|---|
| Industry | Conglomerate (Publishing, Retail, Media, Sports) |
| Founded | 1992 |
| Founder | Jean-Luc Lagardère |
| Headquarters | Paris (16th arrondissement) , France |
Area served | Worldwide (more than 40 countries) |
Key people | Arnaud Lagardère (CEO) |
| Products | Publishing (Hachette Livre), Travel Retail, News publishing, Radio stations, Live entertainment, Sports management |
| Revenue | €8.94 billion (2024) |
| €593 million (2024) | |
| €168 million (2024) | |
| Total assets | €9.52 billion (2024) |
| Total equity | €1.09 billion (2024) |
| Owner | Vivendi (60% controlling interest as of November 21, 2023) |
Number of employees | 33,574 (2024) |
Lagardère S.A. () is an international conglomerate with operations spanning more than 40 countries, headquartered in the 16th arrondissement of Paris. Established in 1992 by Jean-Luc Lagardère under the name Matra, Hachette & Lagardère, the company is presently managed by Arnaud Lagardère.
The enterprise is primarily organized around two core sectors: Lagardère Publishing, which encompasses the prominent publishing house Hachette Livre, and Lagardère Travel Retail, which focuses on retail services mainly situated within airports and railway stations.
Other divisions within the group include Lagardère News, responsible for publishing Le Journal du Dimanche and overseeing the Elle brand licence; Lagardère Radio, which operates stations such as Europe 1, Europe 2, and RFM; Lagardère Live Entertainment, engaged in producing concerts and shows as well as managing venues; and Lagardère Paris Racing, a sports organization.
On November 21, 2023, Vivendi acquired a controlling interest of 60% in Lagardère. Subsequently, in 2024, Vivendi announced plans to strategically separate its holdings, transferring its shares in Lagardère to the Louis Hachette Group ahead of the group's scheduled public offering in December.
For 2024, the company reported key financial figures including revenues amounting to €8.94 billion, operating profit of €593 million, net earnings of €168 million, total assets valued at €9.52 billion, shareholders’ equity of €1.09 billion, and a workforce comprising 33,574 employees.
The origins: Hachette and Matra as pillars of Lagardère
The foundation of the Lagardère Group can be traced back to 1826 when Louis Hachette acquired the Paris bookstore Brédif. Hachette broadened its scope into publishing with periodicals such as Le Journal pour Tous launched in 1855 and collaborated on the development of the starting in 1863. In 1953, Hachette introduced the influential paperback collection Le Livre de Poche, developed with Henri Filipacchi.
Established in 1945, Matra—an acronym for Mechanics/Aviation/Traction—pioneered aerospace innovations including a twin-engine aircraft prototype capable of achieving Mach 1.4 during vertical flight—the first such achievement in Europe. In 1990, Matra Espace merged with Gec Marconi’s aerospace division to create Matra Marconi Space. By 1999, Matra Hautes Technologies had transformed into Aerospatiale Matra. On July 10, 2000, the European Aeronautic Defence and Space Company (EADS, later Airbus) was formed through a merger involving Aérospatiale Matra SA, Aeronautics SA, and DaimlerChrysler Aerospace AG. That same year marked the launch of the A380 program, whose inaugural flight took place in 2005.
The emergence of the group under Jean-Luc Lagardère
In 1963, Jean-Luc Lagardère was appointed CEO of Matra, which then employed approximately 1,450 personnel. He took over leadership at Hachette in 1981. The group’s international expansion included acquiring the American reference work publisher Grolier Encyclopedias in 1988. A major restructuring effort culminated in 1992 with the establishment of Matra Hachette and the broader Lagardère Group. In 1990, Lagardère ventured into television by acquiring control over the struggling channel La Cinq, which ultimately ceased broadcasting in April 1992 and was succeeded by France 5 towards late 1994.
Arnaud Lagardère and renewed concentration on media
In 1994, Hachette Livre introduced Axis, the pioneering multimedia encyclopedia, while Matra Hachette Multimedia developed EPSIS, a technique for image substitution in advertising. By 1998, Hachette Multimedia merged its multimedia operations with Grolier Interactive, concentrating on delivering online educational content. A strategic alliance formed in 2000 between Lagardère and Deutsche Telekom resulted in the fusion of T-Online and Club-Internet.
In 1995, Hachette expanded its footprint by acquiring UCS, Canada's top newsstand chain, thereby becoming the third-largest global retail press operator. The subsequent year saw the purchase of the Hatier Group. In 1997, Hachette Livre achieved significant literary acclaim with works such as La Bataille by Patrick Rambaud. That same year marked the debut of Europe Info, a collaboration between Europe 1 and Club-Internet. In 2000, Hachette Distribution Services launched Relay, an international brand specializing in media retail. Concurrently, Lagardère entered the digital television arena through a partnership with Canal+. In 2001, Lagardère acquired the Virgin Stores and Virgin Megastore chains in France. Additionally, Hachette Filipacchi Médias expanded its portfolio by purchasing a 42% stake in the Marie Claire Group.
Transition from a conglomerate to a diversified media entity
After Jean-Luc Lagardère passed away in 2003, Arnaud Lagardère assumed the role of General Partner at Lagardère SCA. That same year, the group divested from its holdings in Renault and automotive engineering ventures. In 2004, Lagardère acquired Vivendi Universal Publishing; however, due to antitrust regulations, it retained only 40% of the business. This included prominent imprints such as Larousse, Dalloz, Dunod, Nathan, Armand Colin, Sedes, and Spain's Grupo Anaya, while the remaining assets were sold under the name Editis. Capitalizing on growth in TNT, Lagardère launched the youth-focused channel Gulli in partnership with France Télévisions.
In 2006, Arnaud Lagardère established Lagardère Sports to concentrate on sports economics and rights management. The company secured a two-decade concession to manage sports and leisure facilities like Croix-Catelan in Paris. On May 31, 2010, Lagardère Sports rebranded as Lagardère Unlimited to broaden its scope within sports and entertainment sectors.
On July 8, 2015, Lagardère Services was renamed Lagardère Travel Retail. Later that year, on September 15, all sports marketing agencies were consolidated under the unified brand Lagardère Sports and Entertainment—superseding Lagardère Unlimited as one of the group's four primary divisions. This integration brought together agencies such as Sportfive, World Sport Group, IEC in Sports, Sports Marketing and Management, and Lagardère Unlimited Inc., grouping sports marketing under Lagardère Sports and entertainment activities under Lagardère Live Entertainment. Subsequently, on September 17, 2015, Lagardère Entertainment adopted the new name Lagardère Studios.
Seventeen years following the creation of the limited partnership challenged by an American activist investor, nearly 80% of shareholders ratified the continuation of the SCA (French limited partnership with shares) at the Shareholders Meeting held on April 27, 2010.
Deal between Lagardère SCA and Hearst Corporation
On March 28, 2011, Lagardère SCA finalized an agreement to transfer its international magazine portfolio, consisting of 102 titles, to Hearst Corporation for €651 million. This arrangement encompassed a Master License Agreement for the ELLE brand across the 15 countries involved, ensuring ongoing annual royalty revenues for Lagardère. The Group maintained full control over its French magazine operations as well as the global rights to the ELLE trademark. The completion of the transaction was subject to approval by local partners and regulatory bodies.
Divestiture of endurance sports segment to WTC
In January 2016, Lagardère divested its endurance sports division to the World Triathlon Corporation. The sale included the ITU World Triathlon Series events held in Hamburg, Abu Dhabi, Cape Town, Leeds, and Stockholm; running competitions such as the Hamburg-Marathon and Marathon de Bordeaux; along with cycling events like the Cyclassics Hamburg and the Velothon series.
Disposal of majority media holdings and sports agency
Beginning in early 2018, Lagardère Active embarked on a strategic process to divest most of its media properties—except for Paris Match, Le Journal du Dimanche, Europe 1, Europe 2, RFM, and the licensing rights for the Elle brand. Prior to this, the Group had already sold its international radio stations, key digital assets including e-Health platforms, and its share in Marie Claire. By 2019, it completed the sale of prominent French magazine titles, television businesses, its Mezzo stake, and Disney Hachette Presse.
On April 22, 2020, Lagardère sold a 75% interest in Lagardère Sports (excluding Lagardère Live Entertainment) to H.I.G. Capital, a private equity firm based in Hamburg, for €110 million.
In May 2020, despite Amber Capital becoming the largest shareholder and pushing for board restructuring, Lagardère largely resisted replacing directors. By August that year, French media group Vivendi increased its ownership to 23.5%, overtaking Amber’s 20%, and established a partnership with Amber to jointly appoint four members to the board.
In November 2020, Lagardère Studios—its television entertainment division—was sold to French media firm Mediawan. By July 2021, Lagardère completed the full exit from Lagardère Sports by selling its remaining 25% stake to H.I.G. Capital.
Recent acquisitions
Lagardère Publishing broadened its catalog through acquisitions such as Perseus Books (2016), Bookouture (2017), La Plage (2018), Worthy Publishing Group (2018), Gigamic (2019), Blackrock Games (2019), Short Books (2019), Laurence King Publishing (2020), Workman Publishing (2021), Welbeck Publishing (2022), and Sterling Publishing. Meanwhile, Lagardère Travel Retail reinforced its market presence by acquiring Paradies (2015), Hojeij Branded Foods (2018), International Duty Free (2019), Creative Table Holdings Ltd (2022), Marché International AG (2022), and Tastes on the Fly (2023).
Self-censorship
In 2022, the Financial Times revealed that Octopus Books, part of Lagardère Group, omitted references to sensitive subjects related to China, including Taiwan, removing an entire section dedicated to Taiwan. This censorship was reportedly intended to preserve access to affordable printing services in China.
Management
Up until 30 June 2021, Lagardère functioned as a société en commandite par actions, with general and managing partner Arnaud Lagardère at the helm. He was supported by an executive committee that included co-managing partners Pierre Leroy and Thierry Funck-Brentano, spokesperson Ramzi Khiroun, and Chief Financial Officer Sophie Stabile.
After transitioning to a joint-stock company on 30 June 2021, Arnaud Lagardère assumed the roles of chairman and CEO. Since July 2021, he has also chaired the board of directors, which comprises Valérie Bernis, Yannick Bolloré, Fatima Fikree, employee representatives Marie Flavion and Pascal Jouen, Valérie Hortefeux, Véronique Morali, Arnaud de Puyfontaine, Michèle Reiser, and Nicolas Sarkozy.
Lagardère Publishing
Lagardère Publishing stands as one of the largest global trade book publishers serving both general and educational markets under the Hachette Livre brand. This division includes numerous publishing houses that focus on education, general literature, illustrated works, dictionaries, youth literature, and distribution services.
Primarily active in English, French, and Spanish-speaking regions, the division has broadened its scope into related leisure sectors through strategic acquisitions. These include mobile game developers Neon Play and Brainbow (2016), board game publishers Gigamic and Blackrock Games (2019), La Boîte de Jeu (2022), as well as the premium stationery company Paperblanks (2022).
Lagardère Travel Retail
The Travel Retail segment of Lagardère encompasses Travel Essentials, Duty Free & Fashion, and Foodservice operations. Its subsidiary Aelia oversees 270 duty-free outlets across France, the UK, Poland, Ireland, Spain, and New Zealand, generating sales exceeding €1.1 billion in 2013.
In 2013, Lagardère acquired Gerzon, a Dutch enterprise holding long-term concessions for Fashion, Leather & Travel at Amsterdam Schiphol Airport. This includes luxury brands such as Hermès, Burberry, Victoria's Secret, and Ralph Lauren. As of December 2015, Gerzon was integrated into Lagardère Travel Retail Netherlands.
The division further expanded into North America by purchasing The Paradies Shops in 2015; this acquisition led to the creation of Paradies Lagardère. In 2018, it enhanced its foodservice footprint by acquiring Hojeij Branded Foods (HBF), a prominent travel retail food operator in North America.
In 2019, Lagardère Travel Retail took over International Duty Free (IDF), Belgium’s leading travel retail operator with activities extending to Luxembourg and Kenya.
November 2022 saw the acquisition of Marché International AG, an international multi-brand catering company headquartered in Pfäffikon, strengthening Lagardère’s foodservice portfolio.
Most recently in November 2023, Lagardère Travel Retail completed the purchase of Tastes on the Fly, a North American foodservice operator.
Other activities
Lagardère News: Includes Le Journal du Dimanche, Le JDNews, Le JDMag along with the Elle brand licensing.
Lagardère Radio: Operates stations such as Europe 1, Europe 2, and RFM.
Lagardère Live Entertainment: Oversees venues like (Folies Bergère, Casino de Paris, Arkéa Arena), produces concerts and live performances, and offers hosting and promotional services for both French and international productions.
Lagardère Paris Racing: A sports club affiliated with the group.
Financial data
| Year | 2017** | 2018*** | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Net revenue | 7,084 | 6,868 | 7,211 | 4,439 | 5,130 | 6,929 | 8,081 | 8,942 |
| Recurring operating income | 399 | 385 | 378 | (155) | 249 | 438 | 520 | 593 |
| Net finance expenses | (73) | (57) | (53) | (76) | (64) | (74) | (97) | (138) |
| Income tax charge | 2 | (124) | (55) | 31 | (22) | (33) | (78) | (127) |
| Profit/(loss) attributable to parent company shareholders | 176 | 177 | (15) | (660) | (101) | 161 | 144 | 168 |
| Adjusted profit attributable to parent company shareholders* | 214 | 200 | 200 | (330) | 62 | 265 | 252 | 253 |
(*Excluding non-recurring and non-operating items) / (**Restated under IFRS 15) / (***Restated under IFRS 16).
| Year | 2024 |
|---|---|
| France | 22 % |
| Europe (excluding France) | 40 % |
| United States and Canada | 27 % |
| Asia-Pacific region | 6 % |
| Latin America, Middle East, and Africa regions | 5 % |
Lagardère’s shares are traded on Euronext Paris.
See also
External links
- Articles with short description
- Lagardère Group
- Louis Hachette Group
- Conglomerate companies of France
- Publishing companies of France
- Multinational companies headquartered in France
- Companies based in Paris
- Companies listed on Euronext Paris
- Conglomerate companies established in 1992
- French companies established in 1992
- Lagardère family
- Mass media in Paris
- 2023 mergers and acquisitions