© ℗ © 2019 Blackstone Audio
As Ralph Lauren Corp. prepares to celebrate its 50th anniversary this year, the company continues to make progress on its turnaround plan.
Under chief executive officer Patrice Louvet, who joined from Procter & Gamble in July, China remains a top priority. The company looks to build its Chinese business, which represents the most significant geographic growth opportunity for the brand. Other major initiatives this year include further developing its new e-commerce platform; evolving the product; increasing the marketing spend significantly to tell the brand’s story and appeal to a new generation of consumers, and growing its international presence.
In its most recent quarter ended Sept. 30, Lauren posted net income of $ 143.8 million on net revenues of $ 1.66 billion. In disclosing second-quarter results in November, Louvet said the focus on driving “efficiencies” will continue through the rest of the [fiscal] year,” and “we are on track to deliver our full-year targets.”
Over the past two years, Lauren has elevated the brand in Asia and built a strong foundation there by improving quality of sales and overall profitability, Louvet told analysts during November’s call. Interestingly, only 13 percent of the company’s overall business is conducted in the region.
In fiscal 2017, the company generated about
Ralph Lauren is capable of doing big things. In the lead-up to a New York Fashion Week season that has been fraught with controversial defections of major talent, Lauren, a true blue American designer if there ever was one, is staying put (relatively) and stepping it up. He will stage his September runway show Sept. 12 at 7 p.m. at Ralph’s Garage in Bedford, N.Y., with a private formal dinner to follow the show.
The venue is Lauren’s private garage housing his collection of rare automobiles, which will be the backdrop for the show. It’s one of the most valuable car collections in the world, featuring models such as a 1938 Bugatti Atlantic, a 1929 Bentley Blower, an orange 1996 McLaren F1 LM and multiple vintage red Ferraris. In 2011, 17 cars from Lauren’s collection were shown in an exhibition at the Musée Arts Décoratifs in Paris.
To accent the masculine/feminine nature of automobile design, for the first time Lauren will also show the Ralph Lauren Purple Label men’s wear alongside the women’s collection. The show will continue the see-now-buy-now strategy that the company started a year prior — all looks from the show will be available immediately to consumers globally.
It’s been a year since Ralph Lauren entered the wearable tech game, introducing its PoloTech “smart shirt” for men at the 2014 U.S. Open, where ball boys and Marcos Giron, the NCAA singles champion, test-drove the first iteration.
Now PoloTech is ready for market, available online and in stores on Aug. 27, after a year of tweaking the prototype and adding features, including a fancy new fitness app. The shirt retails for $ 295.
David Lauren, executive vice president of global advertising, marketing and corporate communications, was confident in the product’s innovation during a Wednesday morning demo of the smart shirt and app with a fleet of trainers at Equinox in Midtown Manhattan. “This is the most accurate, best wearable technology on the market right now,” said Lauren, noting that it took the Ralph Lauren company two years to develop the smart shirt 1.0 with its in-house innovation lab and proprietary technology from Canadian-based OmSignal.
Style-wise the shirt is intentionally simple and straightforward: a black second-skin stretch T-shirt with yellow Polo Pony. “Our goal is to make it accessible, so customers get it and aren’t scared of the technology,” said Lauren. “It’s like Henry Ford said, ‘Give me any color as long as it’s
© ℗ © 2015 Blackstone Audio
If you thought the fashion set were the only ones flocking to the gorgeous Polo Ralph Lauren flagship store in Manhattan, think again. Starting Friday, those looking to grab a decadent bite can get their fix at the store as well. That’s when Ralph Lauren‘s third restaurant, the Polo Bar, opens its doors to the […]
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