Word: polos
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Dates: during 2000-2009
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...American style, is pushing hard to expand in Europe is being greeted with a certain degree of skepticism. And bitchiness. Who needs a mass American brand like Lauren's when you have the class of Armani, Zegna, Dior and Savile Row? Sure, Europeans are happy to wear a polo player by Lauren instead of an alligator by Lacoste when summering in Cannes. But will they want to don Lauren's $3,000 men's suits or $10,000 beaded dresses when they get back to Paris...
...wants nothing less than to meet the European designers head on. What's more, he feels he has to. Although Lauren is the world's biggest-selling fashion designer (retail customers spend more than $10 billion a year on products bearing the Ralph Lauren name), Wall Street dismisses Polo Ralph Lauren as just another apparel company. If financial analysts would consider it a purveyor of luxury goods, the stock price--and Lauren, who owns 89% of the company--would be all the richer...
...desire for a private plane (he has one of those too) that is pushing Lauren to expand. It's pride. Lauren doesn't talk about his stock price in monetary terms. He calls it "a report card, which gets issued every day." And right now--with the stock of Polo Ralph Lauren hovering around $20, some $10 less than its IPO price--the company is getting poor marks. "When I went public, I had a great business," Lauren says. "I don't think the company has gone backward." Global expansion, he hopes, will prove to Wall Street that...
...that end, Lauren's license partner in Japan has pledged to spend $70 million in the next three years to renovate and revamp Polo stores there. But the company's biggest efforts are focused on Europe--outside of America, it's the part of the world where Lauren feels most comfortable. He was the first American designer to open a freestanding store in Europe, on London's New Bond Street in 1981. "I think I had something to say that wasn't being said before," he claims. His clothes not only brought idealized versions of preppy America or western America...
...that famous people are not content to keep doing what it is that made them famous? Models want to be actresses, actors want to be rock stars, and now, rather than build on his success as a polo-playing figurehead, PRINCE CHARLES has decided to produce a line of clothing. The move is an effort to help England's struggling rural economy. Described as "country casual," the line's scarves, sweaters and tweed suits will be made from the wool of British sheep, with proceeds going to charity. Considering that Ralph Lauren has made a fortune for years offering ersatz...