Polo Ralph Lauren Company Summary Essay
Polo Ralph Lauren is an American apparel company founded in 1967 and is currently based in New York. It was founded by designer Ralph Lauren, who still serves as CEO, Chairman, and chief designer for the company. The company does business by engaging in the design, marketing, and distribution of premium lifestyle products. The company sells apparel products for men, women, and children, accessories such as footwear, eyewear, watches, jewelry, hats, belts, and leather goods including handbags and luggage, fragrances, and home furnishings which include bedding, bath products, furniture, fabric, wallpaper, paint, tabletop, and giftware. The company owns a well-established portfolio of brands that are globally recognized and …show more content…
Competition and Strategy
Polo Ralph Lauren operates in the fashion apparel industry, which is highly fragmented and has low barriers to entry. There are a vast number of well-established competitors who provide unlimited selections for customers and there are usually low switching costs. All of these factors make this industry highly competitive and consequently, Polo Ralph Lauren is constantly under severe stress to maintain market share and profitability.
Among all of Polo Ralph Lauren’s competitors, Liz Claiborne, Philips-Van Heusen, and Jones Apparel Group could be considered as their direct competition because all four of these companies are very similar in the way they make money. All of them sell their products through wholesale, retail, and licensing and they are all divided into different number of segments based on these three functions. These three competitors also all own a big and strong portfolio of brands that target all sorts of customers. Brands are the biggest asset for these companies and essentially are their biggest distinctions from each other.
Liz Claiborne (LIZ) was founded in 1967, the same year as Polo Ralph Lauren,