Consumer
Ralph Lauren Will Keep Raising Prices to Boost Brand Prestige
- The company has raised average prices by 80% since 2018
- The brand is eyeing expansion in India and China, CEO said
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Ralph Lauren Corp. plans to keep lifting the average price of its products, a sign the US apparel company is doubling down on efforts to elevate the cachet of its brands and to sell higher-priced items such as home goods.
“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,” Chief Executive Officer Patrice Louvet said while discussing the company’s pricing plans during an interview with Bloomberg TV’s Francine Lacqua.