Lacoste revived in the U.S. by making the crocodile scarce and expensive again.

Lacoste's alligator was a 1950s and '60s preppie status symbol until General Mills bought it in 1969, merged it with Izod, and in the 1980s cheapened the shirt to $35 and sold it everywhere, even Wal-Mart.

Lacoste bought back the U.S. rights with licensor Devanlay in 1992, but the next six years were a struggle. When Robert Siegel became CEO of Lacoste USA in January 2002, retro-preppie was returning and the green crocodile sat ready to ride it.

Siegel intentionally did the opposite of the discounters: he raised the polo to $69 men's and $72 women's, made it the most expensive polo on the market, and sold only to high-end stores like Saks, Neiman Marcus and Barneys. With designer Christophe Lemaire he added a sexier stretch-pique fit in 25 shades to lure younger buyers.

The result: U.S. sales rose about 800%, grew 125% in 2004, and by 2005 the U.S. was Lacoste's top market — while the brand stayed a $1.8 billion global franchise instead of a discount commodity.

U.S. sales grew about 800% after Siegel took over Lacoste USA in 2002, rose 125% in 2004, and by 2005 the U.S. was the top market of a $1.8 billion brand.

Scarcity and premium pricing restored the brand's status, which volume had destroyed.

Selling only in elite stores protected the brand from further dilution.

A new silhouette and colors spoke to younger, female buyers.

The retro-preppie trend gave the crocodile a ready-made audience.

To revive a premium heritage brand, restrict distribution and raise price instead of discounting: an exclusive crocodile is worth more than a mass-market one, even if short-term volume drops.

Lacoste kept its premium positioning through the 2000s and expanded worldwide, and its U.S. turnaround became a standard case in how to fix an over-commercialized heritage brand. It later moved under MF Brands while retaining the crocodile-led identity and premium price points.