Under CEO Patrice Louvet, Ralph Lauren has successfully attracted young consumers by launching 35 "Ralph's Coffee" store-in-stores. This initiative serves to engage the TikTok generation, making Ralph Lauren a first entry point for many young women. The company's multi-year "brand elevation" campaign has resulted in rising margins and sales at a nine-year high, positioning Ralph Lauren better for future disruptions. Louvet made significant changes, including cutting down wholesale presence during COVID, to reset consumer expectations and avoid detrimental promotional practices experienced prior to his tenure.
Under CEO Patrice Louvet, Ralph Lauren has enticed young consumers by operating 35 "Ralph's Coffee" store-in-stores, serving as a platform to engage with the TikTok generation.
Margins are rising and sales have reached a nine-year high due to the company's successful multi-year "brand elevation" campaign, putting them in a better position for future disruptions.
Ralph Lauren faced challenges prior to Louvet's arrival, having "expanded in places where we probably shouldn't have," leading to higher promotional activity which was unsustainable.
Louvet implemented tough choices and reset distribution strategies during COVID, significantly reducing the company’s wholesale presence to escape the price race to the bottom.
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