Barely arrived, immediately left? The Cazoo brand, which is making its debut this season with fanfare as the main sponsor on the shirts of two of the biggest Ligue 1 clubs, OM and LOSC, is now sailing in the dark. The company, which specializes in the sale of reconditioned used cars, is in the throes of a very difficult financial situation as, indicates The echoes. Cazoo shows significant losses in its account report released on Tuesday, leading the company to a “full strategic review of the activities in continental Europe, in order to continue to reduce our consumption of cash”.
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After having made substantial investments and two fundraisers, Cazoo is now paying for a difficult economic context – in particular for the sale of automobiles –, but also for its very aggressive marketing policy. Already present on the jerseys of Everton, Aston Villa and the Wales national rugby team, the brand carried out a wave of sponsorship this summer and is now displayed, in addition to Marseille and Lille. , on the tunics of Valencia, Real Sociedad, Bologna and Fribourg. This, while The echoes reporter of past losses”from 100 to 243 million pounds (293 million euros) in one yearListed since March 2021 on Wall Street, Cazoo has seen its share price plummet from $10 to $1.
For the Marseille club as for the Mastiffs, this bad patch could have short-term consequences. Cazoo has a 750 freed-up plan in place to preserve cash, as the business has just expanded to many markets, including France, in recent months. She did not wish to confirm at Echoes whether France could be affected by this new orientation and these staff reductions, which could lead the brand to withdraw from several countries.
Without activity on French soil, Cazoo would probably seek to disengage from its partnerships with OM and Lille. OM’s previous shirt sponsor, Uber Eats, notably brought in 5 million euros for the club.
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