Brand deepens roots in key North American market, with plans to expand further in Canada in coming years
TORONTO & NEW YORK, September 27, 2023--(BUSINESS WIRE)--Ralph Lauren Corporation (NYSE:RL) today announced that it is expanding in Canada with the launch of dedicated digital commerce and the first Ralph Lauren store in the country. The store, which recently opened in Toronto’s Yorkdale Shopping Centre, is the first in a planned expansion in Canada, building on the Company’s existing wholesale and outlet presence in the region. Toronto represents one of the Company’s top 30 cities targeted for a comprehensive omni-channel ecosystem expansion globally.
Currently, Ralph Lauren has 12 outlet stores in Canada as well as a wholesale presence at key retailers, including Hudson’s Bay, Sporting Life and Harry Rosen. The Company plans to open a number of Ralph Lauren stores across the country in the coming years.
"Ralph Lauren’s ethos of timelessness and authenticity has inspired and connected with our Canadian consumers for decades, and we’re excited to bring a more holistic expression of our brand to Canada," said Bob Ranftl, Regional Chief Executive Officer for North America at Ralph Lauren Corporation. "We look forward to serving our consumers throughout Canada with enhanced and elevated experiences that reflect our luxury lifestyle point of view."
The new RalphLauren.ca site will house Ralph Lauren’s full portfolio of iconic brands, including Purple Label, Ralph Lauren Collection, Polo Ralph Lauren, Double RL and Lauren, across its breadth of Men’s, Women’s and Childrenswear assortments in apparel, accessories and footwear, in addition to select Home items. The Company is planning to launch the English version of its Canadian digital commerce site on October 11. It will explore a future launch in Quebec with a French-language version.
The Ralph Lauren store features a mix of Men’s Purple Label and Women’s Collection, as well as a curated selection of Polo Ralph Lauren Men’s and Women’s collections. Located on the ground floor of Yorkdale Shopping Centre, one of Canada’s leading retail destinations, the store also offers an array of dedicated client services, including private styling appointments, alterations & repairs and Made-to-Measure tailoring.
The store’s design captures the Ralph Lauren brand’s timeless spirit and brings it to life in a modern, sophisticated space. The bold, double-height façade, comprising of cherry wood louvers and aged-bronze metal, gives way to a contemporary interior with bright, white walls and a limestone floor.
The Canadian digital commerce site and new luxury store build on Ralph Lauren Corporation’s targeted expansion in North America, as well as across Asia and Europe, as part of its Next Great Chapter: Accelerate strategy to deliver sustainable, long-term growth and value creation. Guided by its multiple drivers of growth, the Company is focused on creating elevated consumer ecosystems through a strategic balance of flagship stores, intimate boutiques, outlets, wholesale partnerships and digital platforms.
ABOUT RALPH LAUREN CORPORATION
Ralph Lauren Corporation (NYSE:RL) is a global leader in the design, marketing and distribution of luxury lifestyle products in five categories: apparel, footwear & accessories, home, fragrances and hospitality. For more than 50 years, Ralph Lauren has sought to inspire the dream of a better life through authenticity and timeless style. Its reputation and distinctive image have been developed across a wide range of products, brands, distribution channels and international markets. The Company’s brand names — which include Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children and Chaps, among others — constitute one of the world’s most widely recognized families of consumer brands. For more information, visit https://corporate.ralphlauren.com/.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains goals, initiatives and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the Company’s targeted digital and regional expansion as part of its strategic plan. Forward-looking statements are indicated by words or phrases such as "anticipate," "aim," "outlook," "commit," "estimate," "ensure," "expect," "project," "believe," "envision," "seek," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond Company control. The factors that could cause actual results, performance or achievements to materially differ include, among others, the risk factors identified in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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