It's been a milestone year for Ralph Lauren, who has been celebrating 40 years of WASP-inspired fashion, which he has successfully taken all over the world. This should be no surprise, as it's not like Lauren has been quiet about it.
Along with a gala event held during fashion week in Central Park in New York, he has had wall-to-wall coverage of his anniversary in almost every fashion magazine on the planet from the ultra-mainstream to the uber-edgy. I must have seen at least 10 multi-page spreads, celebrating Lauren and his contribution to fashion.
To his credit, Ralph Lauren has had something genuinely impressive to celebrate. How many other American designers (or any designer, for that matter) can boast of a multi-billion dollar empire built from scratch without the help of a major luxury group? The only other one that comes to mind is Armani.
In any case, it must have been extremely disappointing then for the company to release a surprise profit warning, stating:
Given the current macroeconomic challenges in the U.S., the Company thought is was prudent to recalibrate expectations for the back half of this fiscal year with a more cautious view on sales and margins for its domestic operations.