Ralph Lauren to continue raising prices

In an effort to raise the brand's reputation, Ralph Lauren has announced that it will continue to raise its prices. According to CEO Patrice Louvet's statement to Bloomberg, this increase will follow a qualitative elevation of the products extended to the brand's storytelling, in order to initiate a steady growth in sales. The prices of Ralph Lauren products have already increased by around 80% since 2018, as has the company's revenue, which grew by more than 61% in the last quarter, a figure that is still lower than that of the company's competitors, Capri Holdings Ltd. and Coach. This initiative follows a trend of price increases pervading the entire luxury industry, already implemented in brands such as Hermès, Chanel, and groups such as Kering.

In the interview, the CEO also added that Ralph Lauren is planning an expansion project in India, where there are already four shops of the brand. China, which accounts for 6 percent of Ralph Lauren's global sales, will also be one of the countries to focus on, given the considerable expansion that the luxury sector is experiencing in the country. In addition to these projects, there will be the expansion of the women's line, for clothing and accessories, as well as the dining and drinking line, focusing on the opening of new coveted destinations, such as Ralph's Coffee and Polo Bar in London, or the RL Restaurant in Chicago.