Polo Ralph Lauren Corporation (NYSE—RL), originally Ralph Lifshitz, was founded by Ralph Lauren in 1967. The
company began by selling creatively designed neckties. The popularity of the Polo label led to the opening of the company’s first boutique located in Bloomingdales during 1969. Currently, the company is involved in the design, marketing, and distribution of upscale lifestyle products for both men and women. Polo Ralph Lauren owns rights to numerous trademarks, including the “famous polo player astride a horse”.
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.
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