Ralph Lauren sales up 9% as it readies Polo for Women launch
Ralph Lauren has seen a 9 per cent increase in its retail sales and a 3 per cent increase in revenue in the first quarter, as the luxury fashion brand prepares to launch Polo for Women.
Net revenues hit $1.7bn in the period, which the retailer attributed to strong retail segment sales growth and double-digit expansion in international markets.
“Our first quarter results demonstrate that we are making the right strategic decisions and investments to support our long-term growth objectives,” said Ralph Lauren, chairman and chief executive officer.
“Later this month, we’ll mark an important milestone for the Polo brand with the introduction of Polo for women. That launch will be supported by the opening of our first Polo flagship store in New York City.”
In the autumn, Ralph Lauren will open a 20,000-square-foot luxury flagship store in Greater China, which Lauren said would be a “critical brand expression” in an important market.