Ralph Lauren back in fashion as US luxury brand’s sales surge


Ralph Lauren back in fashion as US luxury brand smashes expectations to deliver soaring revenues

Ralph Lauren last night beat expectations to deliver soaring revenues after a difficult 2020. 

The high-end American fashion brand reported full-year sales in 2021 beyond pre-pandemic levels – up 41 per cent to £4.96billion. 

The figures were boosted by its fourth quarter earnings update which delivered double digital growth across all regions. 

Sales up: Ralph Lauren reported full-year revenue in 2021 beyond pre-pandemic levels up 41% to £4.96bn

Sales in the final three months climbed 18 per cent to £1.19billion while North America – Ralph Lauren’s most lucrative market – enjoyed a 19 per cent increase to £538million. 

The luxury fashion brand’s sales also rose 53 per cent in Europe and 25 per cent in Asia. 

Patrice Louvet, president and chief executive officer, said: ‘Our teams around the world executed exceptionally well to deliver fourth quarter and full year results that exceeded our expectations as we continued to progress on our long-term strategic commitments. 

‘We have laid the groundwork for healthy sustainable growth and value creation in fiscal 2023.’ 

Ralph Lauren has forecast revenue growth of around 8 per cent in the first quarter of 2023 despite global supply chain problems. 

Read more at DailyMail.co.uk