US fashion retailer Ralph Lauren has some big plans to expand globally.
The retailer recently delivered its strategic growth plan called Next Great Chapter: Accelerate during its maiden investor day in 4 years.
It was during this event, Bob Ranftl, Regional CEO, North America, said that the clothing retailer plans to launch around 250 stores in next 3 years.
While emphasising on retailer’s direct-to-consumer (DTC) efforts, Patrice Louvet, CEO, Ralph Lauren, said that the majority of its business comes from DTC channels.
Notably, Ralph Lauren’s direct-to-consumer business now represents 63 per cent of its overall revenue.
The retailer’s ecosystem strategy comprises a combination of bricks-and-mortar and digital environments. Importantly, it has now identified 30 markets for expansion, which includes 14 markets in North America, eight in Europe and eight in Asia Pacific.
The 14 cities in North America represents two-thirds of the premium market.
Founded in 1967, Ralph Lauren is headquartered in New York City, and produces products ranging from the mid-range to the luxury segments.
