Ralph Lauren saw its sales almost triple over the last quarter. Demand for polo shirts and shirts featuring the famous tiny horse is picking up, as public life starts up again.
Focus on sports and locals
CEO Patrice Louvet speaks of an exceptional performance, FashionUnited reports. The luxury goods brand has gambled, and won, by scaling back its offerings of pyjamas and loungewear, while demand for slightly more formal items is on the rise again.
Sales rose in the past quarter by as much as 182 % compared to the lockdown period last year, to 1.4 billion dollars (1.2 billion euros). In Europe, there was even an increase of 194 %. The exceptional growth can be explained by the weak basis for comparison, as sales in the Asian market increased by only 68 % – China came out of last year’s lockdowns faster than the Western world.
Ralph Lauren is also putting a strong emphasis on marketing this year. The brand is not only sponsoring the American Olympic team, but also events such as Wimbledon and the Major League Baseball. Marketing spending doubled compared to the same period last year and was 40 % higher than in 2019. However, according to Louvet, it was a conscious decision to target local shoppers more than tourists with the advertising campaigns, as international tourism is still slow to take off.
