As Ralph Lauren Corp. prepares to celebrate its 50th anniversary this year, the company continues to make progress on its turnaround plan.
Under chief executive officer Patrice Louvet, who joined from Procter & Gamble in July, China remains a top priority. The company looks to build its Chinese business, which represents the most significant geographic growth opportunity for the brand. Other major initiatives this year include further developing its new e-commerce platform; evolving the product; increasing the marketing spend significantly to tell the brand’s story and appeal to a new generation of consumers, and growing its international presence.
In its most recent quarter ended Sept. 30, Lauren posted net income of $ 143.8 million on net revenues of $ 1.66 billion. In disclosing second-quarter results in November, Louvet said the focus on driving “efficiencies” will continue through the rest of the [fiscal] year,” and “we are on track to deliver our full-year targets.”
Over the past two years, Lauren has elevated the brand in Asia and built a strong foundation there by improving quality of sales and overall profitability, Louvet told analysts during November’s call. Interestingly, only 13 percent of the company’s overall business is conducted in the region.
In fiscal 2017, the company generated about
Follow WWD on Twitter or become a fan on Facebook.