Ralph Lauren Corp. Celebrates 25 years on NYSE, Announces Plans to Add 250+ Stores Globally | Trade and Industry Development

Ralph Lauren Corp. Celebrates 25 years on NYSE, Announces Plans to Add 250+ Stores Globally

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Oct 11, 2022
The luxury brand plans to continue with its streamlined retail strategy and increasing its direct channels, and the company said it plans to add more than 250 new stores over the next three years.

Ralph Lauren Corp. recently celebrated its 25th year being on the New York Stock Exchange and hosted investors for a look at it's current growth strategy, dubbed the "Next Great Chapter: Accelerate." The luxury brand plans to continue with its streamlined retail strategy and increasing its direct channels, and the company said it plans to add more than 250 new stores over the next three years, reports Footwear News.

“Our ‘Next Great Chapter: Accelerate’ plan is grounded in this meaningful progress, building on our elevated brand positioning and desirability; our distinctive, timeless products and experiences across multiple categories; and our expanding reach in key cities around the world,” said President and CEO Patrice Louvet.

The company says it is growing its retail ecosystem in 30 top cities around the world, including 14 cities in North America, eight in Europe and eight in Asia-Pacific. These cities were selected because they’re a center of gravity for our consumers, for fashion and style, from a population standpoint, GDP and attractive household incomes,” said Bob Ranftl, CEO of North America. Ranftl added that Ralph Lauren’s market expansion is already underway in several global cities, including Los Angeles, Chicago, Miami, and Atlanta in the U.S.

Among the projected 250 new stores set to open over the next three years, 200 will be in Asia-Pacific, 40 to 50 will be in Europe and 15 to 20 will be in North America, notes Footwear News. Those locations could represent a range of retail types from within the Ralph Lauren ecosystem, from flagships to small-format full-price stores to shop-in-shops and concessions.

“When it comes to new store openings, we are hyper-focused on the right locations, right environments, right economics,” said Ranftl. “This is an intentional and targeted approach as we move towards our goal of sustainable growth.”

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