Originating as a performing troupe called Les Échassiers (IPA:[lez‿eʃasje]; "The Stilt Walkers"), they toured Quebec in various forms between 1979 and 1983. Their initial financial hardship was relieved in 1983 by a government grant from the Canada Council for the Arts to perform as part of the 450th anniversary celebrations of Jacques Cartier's voyage to Canada.[9] Their first official production Le Grand Tour du Cirque du Soleil was a success in 1984, and after securing a second year of funding, Laliberté hired Guy Caron from the National Circus School to recreate it as a "proper circus". Its theatrical, character-driven approach and the absence of performing animals helped define Cirque du Soleil as the contemporary circus ("nouveau cirque") that it remains today.[10]
After financial successes and failures in the late 1980s, Nouvelle Expérience was created—with the direction of Franco Dragone—which not only made Cirque du Soleil profitable by 1990, but allowed it to create new shows.[11] It expanded rapidly through the 1990s and 2000s, growing from one production to dozens of shows in over 300 cities on six continents. The company employed 4,900 people from 50 countries and generated an annual revenue of approximately US$1 billion in 2017.[12][13] The multiple permanent Las Vegas shows alone play to more than 9,000 people a night, 5% of the city's visitors, adding to the over 100 million people who have seen Cirque du Soleil productions worldwide.[14][15]
In 2000, Laliberté bought out Daniel Gauthier's stake in the company, and with 95% ownership continued to expand the brand.[16][17] In 2008, Laliberté sold 20% of his share to the investment groups Istithmar World and Nakheel of Dubai, but later bought back their stake following the 2008 global financial crisis.[18][19] In 2015, TPG Capital, Fosun Industrial Holdings, and Caisse de dépôt et placement du Québec purchased 90% of Cirque du Soleil while Laliberté retained a 10% stake in the company.[20][21] In February 2020, Laliberté sold his remaining 10% stake in the company to Caisse de dépôt et placement du Québec for $75 million.[13][22] Following a bankruptcy brought on by the COVID-19 pandemic, the company was sold to a group of its creditors led by Catalyst Capital Group in November 2020.[23]
^Bennett, Susan (2016). "Circus and Gentrification". In Batson, Charles R.; Leroux, Louis Patrick (eds.). Cirque Global: Quebec's Expanding Circus Boundaries. Montreal: McGill–Queen's University Press. p. 85. ISBN978-0-7735-9870-6.
^Cite error: The named reference Hermann was invoked but never defined (see the help page).
^"Cirque du Soleil biography". Governor General's Performing Arts Awards Foundation. Archived from the original on 5 February 2015. Retrieved 4 February 2015.