Photo:
Ralph Lauren
By
-
Ray A. SmithThe Wall Street Journal
- Biography
- @rayalexsmith
- Ray.Smith@wsj.com
Ralph Lauren skipped the runway this week. On Thursday, while other designers staged traditional shows at New York Fashion Week, Mr. Lauren showcased his latest collection in an expanded version of the coffee shop in his women’s store on Madison Avenue. Models smiled; guests slid into banquettes and sipped coffee; and almost everything was available for sale immediately after at the store and online. “We want to be stimulating,” Mr. Lauren said afterward. “It’s about change and newness.”
The approachable, casual atmosphere reflected the customer that the $10.14 billion brand is courting. On an earnings call two days before the show, CEO Patrice Louvet emphasized that the first step in the company’s five-year “Next Great Chapter” plan was to win over a new generation of customers.
Ralph Lauren
Corp.’s
stock rose nearly 12% Tuesday morning after the company raised its full-year sales outlook and posted stronger revenue for its latest period, helped by growth in Asia and Europe.
Here, a closer look at Ralph Lauren’s presentation.
Photo:
Ralph Lauren
Yes, that is the Polo shirt logo on that evening gown.
The logo debuted on sporty collared shirts in 1972, helping to turn Ralph Lauren into a symbol of preppy, all-American style. Cost of a Polo shirt: $85. Cost of this “polo shirt” evening dress, which can be made to order: $6,500.
Chasing the new customer—without alienating the old. In its drive for millennials and Gen-Z customers, the company needs to avoid pushing away its traditional clientele. This design might evoke nostalgia in customers old enough to remember the ubiquity of the Polo Shirt in the 1980s—but still features a youthful mashup of glamorous and casual.
How to get them in the door. In an age of online shopping, upscale retailers need to work harder to lure their customers into brick-and-mortar stores. That means making shopping an “experience.” During the fashion show models sauntered among the tables. “People are wanting to see an all-encompassing atmosphere that’s inviting,” Mr. Lauren said.
Don’t wait. Most high-fashion followers have to wait six months or so to buy clothes after seeing them on the runway. But in 2016, Ralph Lauren switched to a “See Now/Buy Now” schedule, making fashion-show clothes immediately available. To interest customers in the latest collection, the reimagined Ralph’s Cafe, complete with circulating models, will stay open through the weekend. Shoppers can go to the store or online to snag looks such as a laminated poplin coat ($2,790) or a sequined sweater dress ($1,990).
Photo:
Ralph Lauren
Write to Ray A. Smith at ray.smith@wsj.com
Let’s block ads! (Why?)