The renowned American fashion firm Ralph Lauren has just had a great first half!
The luxury fashion company has seen its net profits rise by an outstanding 37.3 per cent during the above-mentioned period.
The sales, for the same period, went up by 2.3 per cent.
Another notable highlight is that Ralph Lauren has resumed sourcing from Bangladesh after 4 years.
With things looking good, the fashion firm plans to increase its sales by billion dollars by the year 2023.
The aim is to generate half growth from its core product (men’s shirts) and the other half from undeveloped categories like denim, outerwear, footwear, etc.
The American fashion company said that in next 5 years, marketing expenditure will increase by US $ 100 million.
The aim is to win the new generation and increase gross margins by enhancing the core product category and expanding the undeveloped categories.