The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Ralph Lauren Corp., the lifestyle retailer known for preppy fashions, posted second-quarter profit that exceeded analysts' estimates as its cost-saving reorganization efforts begin to show results.
Earnings in the quarter through Sept. 26 were $2.13 a share, the New York-based company said in a statement on Thursday. Analysts estimated $1.73, on average.
Ralph Lauren, which said in September that former Gap Inc. executive Stefan Larsson would succeed the company's founder as chief executive officer, is working to curb discounts and boost full-price sales. The company is expanding into new product lines to combat falling traffic and working to cut $100 million in annual costs by the end of its 2017.
This month marks Larsson's first as CEO. The executive has been credited with reviving Gap's Old Navy brand and previously held several positions at Hennes & Mauritz AB. Lauren, 76, will remain executive chairman and chief creative officer.
By Lindsey Rupp; editors: Nick Turner, Kevin Orland.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.