By Peter Finocchiaro
December 13, 2010
…Ralph Lauren earned praise for the manner in which it weathered the economic storm of 2008 and 2009, emerging stronger than ever this year.
The brand opened new flagship locations, expanded its ecommerce and mobile operations, and maintained the quality of service that has helped distinguish its retail experience.
“Ralph Lauren creates in the mind-set of consumers a lifestyle that they feel they are attaining and accessing through its products,” said Milton Pedraza, CEO of the Luxury Institute, New York. “He’s done that for years, but really sharpened the focus to make it a wonderful art and science of luxury.
“[The brand] should be a wonderful example for luxury – especially during the recession – of how to manage the equity of a premium or luxury brand intelligently and in a financially powerful way,” he said.
“In the last two years, coming out the recession, Ralph Lauren has really shown the world how you can be resilient and how you can scale and how you can still do that and maintain your prestige and relevance as a brand.”
In the end, for Ralph Lauren, marketing is all about a narrative.
“This company was founded 45 years ago – it started with a tie,” Mr. Lauren said. “That tie was designed to tell a story about a world.
“The brand was called Polo because it gave you the feeling of a luxury world on and off the sports field,” he said. “Every aspect of our brand brings you into a world rich with imagery – like stepping into a movie.”
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