Ralph Lauren to open Polo in London but will first launch a Polo Sport line
Polo Sport: since 1994 this has been the name of the Ralph Lauren perfume. But as of fall 2015, it will also be the name of a new Polo sports and lifestyle line.
The American management team used the posting of its third quarter results as the occasion to announce the launch of a premier collection solely dedicated to menswear. The brand promises to accompany consumers "from the field to the street". It will thus offer sportswear pieces following a lifestyle trend all while conserving the Ralph Lauren touch.
"The Polo brand has always reflected an active spirit and sensibility, and our company is proud to be associated with some of the world's most admired sporting events and championships in the worlds of tennis, golf, polo and of course, the Olympics," highlighted Jacki Nemerov, Executive Vice President of the group in an exchange with financial analysts. "The strong consumer response to these partnerships and products affirms our belief that our brand's credibility and potential in the active space is unique and powerful. As you know, the active segment of the apparel market is growing at a tremendous rate, and we believe there is a significant long-term market share opportunity for Polo."
The collection is to be launched worldwide through specialised stores, department stores, in the group's own stores and online.
Ralph Lauren is indeed aiming to develop Polo's visibility and retail footprint. After launching the Polo Women's line this season, it inaugurated the brand's first flagship store on Fifth Avenue in New York.
"Interestingly, the Women's Polo business is representing about half of the sales of that store," added in Christopher Peterson, the group's Chief Financial Officer. "We are very encouraged by this since because we think that this line gives us another leg to the stool for the Polo retail strategy. We're also seeing about 40% of the sales go to foreign tourists in that store. And so we're seeing a strong resonance of Polo products with the foreign tourist."
Polo currently has five stores in the world with units that have just opened in Singapore and Las Vegas. A store is also scheduled to open in Houston by the New Year and Ralph Lauren promises to gradually develop its network in the next 12 months.
The group has even already announced the opening of a European flagship store. Polo will thus have a new address on Regent Street, in London, in the first quarter of 2016.
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