Ralph Lauren: financials
In 2023, the company's global revenue amounted to 6.44 billion U.S. dollars. The sharp decline in Ralph Lauren's revenue in 2020 was a reflection of the impact of the coronavirus (COVID-19) pandemic particularly on the luxury goods industry. As of 2023, Ralph Lauren's store sales went back to growth, particularly in the European and Asian markets, where sales registered growth for two consecutive years..
Ralph Lauren's retail strategy
The network of Ralph Lauren's retail stores focuses on showcasing the "World of Ralph Lauren". Advertisements that are intended to portray a lifestyle rather than a specific product. While previously the company allocated higher amounts of advertising and marketing expenses, in 2022, their budget saw a drop below 200 million euros.
As of 2023, Ralph Lauren operated 344 retail stores throughout the world. However, Ralph Lauren's main focus is their boutique style model consisting of 'shops-within-shops'. As of 2023, the company had a network of over 7,000 shops-within-shops in North America alone. The company employs about 23,300 people and operates approximately 9,275 distribution centers worldwide. With a pre-established network of retailing and department stores, it is very easy and convenient for the Ralph Lauren Corporation to bring in new lines of products.
