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Source: RALPH LAUREN / TOM GOULD / RALPH LAUREN / TOM GOULD
One of America’s most beloved fashion labels might be less obtainable moving forward. Ralph Lauren has announced they will be raising their prices.
As spotted on Hype Beast the house that Ralph built will be asking consumers to pay more for their aspirational goods moving forward. While the news has taken many of their long time fans by surprise the company has been steadily hiking up their prices since 2018. In an interview with Bloomberg News Ralph Lauren Corporation CEO Patrice Louvert explained the strategy.
“I don’t think there’s a limit as long as we do a good job on elevating the product, elevating the storytelling, elevating the environment,” he explained. “The onus is on us to make sure that we are able to provide this consistent elevation. Then that will support the continued growth of average unit retail.” The move is in an effort to elevate the brand’s prestige. But some trade experts claim the tactic could be risky. “Elevating a brand with higher price points without commanding the ensuing margins raises questions about how elevated the brand perception really is,” BMO Capital Markets analyst Simeon Siegel wrote in a report published earlier this month.
Recently Ralph Lauren confirmed it will be returning to New York Fashion Week this fall after a four year hiatus.
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