Ralph Lauren, the American fashion retail giant, recorded a net revenue growth of 5 per cent as announced in the first week of February 2019. Besides, the company also saw a respectable growth in underlying comparable sales.
The good numbers hold lot of significance considering a very poor performance of the brand over last year.
The bottom line of the brand too boosted its operating income up by 12.9 per cent over last year. A lot of this is attributed to lower discount rates offered by the company mainly in wholesale channel.
The brand also said that a more focused and disciplined appraoch in producing new collections – over last few months – has helped in not only enhancing its sales but also in building connectivity with consumers.
According to company’s data, the brand affinity to Ralph Lauren during the recent Christmas and New Year holiday season was the best in last 5 years and it was a delight to see lot of brand awareness among youth.
The recent initiative like the launch of the Palace label also helped the brand gain excessive visibility among shoppers wanting contemporary designs.
2019 has brought back Ralph Lauren on right track and what it needs now is a focused business strategy, which also includes desisting from launching any sub-brands.
