Patrice Louvet, president and chief executive officer, told WWD that the firm’s ambition to be “the leading luxury lifestyle company in the world.”
“We have a clear game plan and we have multiple engines of growth,” Louvet said. “We have this unique ability to lean harder on some areas of the strategy. Agility is really built into our overall plan. On our product side, we can flex the breadth of our portfolio — this quarter to make more sports coats and fewer hoodies.”All of the firm’s regions are growing on a constant currency basis, with continued strength in China despite COVID-19 lockdowns there.
Revenues for the three months ended Oct. 1 increased 5 percent to $1.58 billion from $1.5 billion, a rise of 13 percent in constant currencies. The overall landscape in China is also changing, with President Xi Jinping consolidating political power and setting a new tone at the top. As the brand has branched out, it’s also steadily moved up — an evolution keeping with the founder’s philosophy.
While many fashion companies have significantly reduced their annual outlooks for this year given the stresses of sky-high inflation, higher interest rates and looming recession, Ralph Lauren is largely holding its ground.
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