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Ralph Lauren

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Ralph Lauren

Shelby Gray
Group #2
BUS 440.02
11:30

0

COMPANY OVERVIEW
Polo Ralph Lauren is a company specializing in the production of lifestyle products. Ralph Lauren began forty years ago with simply a collection of ties and now has grown into an entire culture that has redefined American Style. Ralph Lauren stands for providing quality products and inviting people to take part in their dream. Ralph Lauren was the innovator of lifestyle advertisements and the first fashion company to create stores to invite customers to participate in that lifestyle.
HISTORY

1

RALPH LAUREN SWOT ANALYSIS

Table 1
Ralph
Lauren EFE Matrix

Weight

Rating

Weighted Score

OPPORTUNITIES

-­‐Boost internet sales

0.20

3

0.6

-­‐Development of private labels within department stores -­‐Development of philanthropic campaigns THREATS

0.16

3

0.48

0.13

2

0.26

-­‐Fluctuating exchange rates

0.18

3

0.54

-­‐Huge competition within target market -­‐Dependence on licenses

0.13

2

0.26

0.20

4

0.8

1.00

2.94

Table 2

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In table 2, the external factor evaluation, the major opportunity for Ralph Lauren is boosting their
Internet sales. ‘Boost Internet sales’ is scored the highest. Most of Ralph Lauren’s sales are not coming from their online sales, but increasing Internet sales is a good goal to keep up with technology and the convenience aspect that customers love about online shopping. The next highest ranked opportunity for
Ralph Lauren to utilize is the development of private labels within department stores. Lastly, is the development of philanthropic campaigns. Ralph Lauren has a foot into multiple philanthropies. Being involved with charities creates an even higher appeal to customers and adds another positive connotation to the Ralph Lauren brand name.
As far as threats, the greatest one facing Ralph Lauren right now is their dependence on licenses.
Ralph Lauren relies heavily on their licensing agreements and this causes them to face great risk on a quarterly basis. Ralph Lauren does a lot of business internationally so the fluctuating exchange rates around the world take a toll on Ralph Lauren’s revenue. The competition within the target market is not as dramatic as a threat for Ralph Lauren because Ralph Lauren carries a very high amount of brand loyalty.
Ralph Lauren customers are usually customers for life.

3

Ralph Lauren IFE Matrix

Weight

Rating

Weighted Score

STRENGTHS

-­‐Selection of luxury products

0.18

3

0.54

-­‐Premier global player in lifestyle product 0.20 market -­‐Wholesale division for department 0.16 stores WEAKNESSES

4

0.8

3

0.48

-­‐Overseas business revenue loss due to 0.15 exchange rates -­‐-­‐Dependent on few products for revenue 0.11 of the many they

offer -­‐Dependence on large retail stores for 0.20

3

0.45

2

0.22

4

0.8

3.29

generating revenue

1.00

Table 3

For the internal factor evaluation, the greatest strength of Ralph Lauren, is the status Ralph
Lauren has as premier global player in the lifestyle product market. Ralph Lauren has expanded all over the globe and is continuing to open up stores in new countries each year. Following this key strength is their selection of luxury products. Ralph Lauren started with strictly menswear but has since expanded to become a well-diversified lifestyle brand. Lastly is Ralph Lauren’s wholesale division for department stores.
The Ralph Lauren division, sold at department stores, is affordable to most people and this is the line we see people wearing most commonly. The high fashion items sold at the Ralph Lauren stores is not highly accessible geographically or the monetarily to the average person.
Ralph Lauren’s greatest weakness is their dependence on large retail stores to generate revenue.
About half of Ralph Lauren’s revenue comes from their wholesale segment alone and this puts a lot of their reliance on the retail stores that sell the wholesale division for Ralph Lauren. The next weakness is the

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revenue lost in exchange rate fluctuations from overseas business. Last, is Ralph Lauren’s dependence on a small percentage of the wide variety of products their company offers for generating revenue.

RALPH LAUREN COMPANY ANALYSIS
RALPH LAUREN CORE COMPETENCIES
- International expansion
- Wide selection of luxurious lifestyle products
- Huge customer base due to relationships with numerous retail stores
RALPH LAUREN: Sustainable Competitive Advantage
Ability to use brand name to support exponential growth.

Table 4

Table 4 shows Ralph Lauren’s free cash flow for 2008-2010. Dividends per share are steadily increasing throughout this period, along with the amount of free cash for Ralph Lauren. Increasing free cash gives Ralph Lauren more cash on hand to use for acquisitions or other purchasing choices.

5

Porter’s Analysis
Subject

Rating

Reason

Power of suppliers

Low

There is little risk for a company to not be able to provide a customer with the same product choices as another firm.

Power of consumers

High

With the large number of companies in the industry, customers have much leverage when choosing where to purchase their lifestyle products.

Entry of new competitors

Medium

The industry has lots of competitors that enter easily, however it is difficult to accomplish the global presence and brand awareness they Ralph
Lauren has created.

Substitute products

High

Availability of substitutes is relatively high because there are a wide variety of brands and products with different price points in the industry.

Rivalry among competitors

High

There are a few giants in the apparel industry and they are constantly battling for market share. COMPETITOR ANALYSIS
Ralph Lauren’s largest competitors in the apparel clothing industry are The Jones Group Inc. (JNY),
Liz Claiborne Inc. (LIZ) and Ann Inc. (ANN).

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The Jones Group

Sustainable Competitive
Advantage
Expansion to create a wide variety in products for girls and women Core Competencies
1.Knowledge and experience in female fashion
2. Breadth of brands for females
3.Brand name appeal

Liz Claiborne Inc.

Appeal to large market through diversity in brands and price points 1.Brand portfolio
2.Appeal to men and women
3.Potential for growth

Ann Inc.

Ability to closely connect and build relationships with clients

1.Close client relationship
2.Knowledge of target market
3.Company mission

Table 5
Table 5 shows a comparison between some key characteristics for the apparel clothing industry.
Ralph Lauren leads in most of the categories aside from number of brands, where The Jones Group has 44.
This table demonstrates some of the specific reasons why Ralph Lauren is so successful in its industry.

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Table 6
Another comparison between these three major competitors is seen in the competitive profile matrix. Ralph Lauren’s high score shows it is leading the industry and the biggest laggard in the industry is
Ann Inc.

RALPH LAUREN FINANCIALS

Table 7

8

Total revenue for Ralph Lauren is fluctuating due to the economic recession. Ralph Lauren’s focus throughout the past decade has been on expanding internationally. They did not let the economic recession impact their efforts throughout the past few years but the recession caused a slight dip in revenue. The
Chief Financial Officer for Ralph Lauren mentioned in an article that the company is already so well established around the world that they did not have to make any internal changes to deal with the recession and they felt fortunate in this. The increase in expenses is due to the opening of flagship stores in Ralph Lauren’s expansion efforts.

Table 8

Ralph Lauren’s cash fluctuations and the increase in assets can be attributed to the flagship store operations. Ralph Lauren’s debt level is decreasing showing that the company does not operate with a high level of debt. It is also important to notice the increase in stockholder’s equity.

9

RALPH LAUREN COMPARATIVE FINANCIALS
Table
9

In table 9, the comparison most noteworthy is the comparison in free cash flow. Ralph Lauren is leading the competitors in amount of free cash flow, while Liz Claiborne is trailing far behind the rest with negative cash flows for the past three years. Ralph Lauren’s dividends/share have increased steadily in the past 3 years.
Table
10

10

This income statement (table 10) comparison shows Ralph Lauren leading the industry once again. Ralph Lauren has the highest revenue, gross profit, and net income. The companies coming up last are Liz Claiborne and Ann Inc.

Comparative Balance Sheet 2010
(numbers in thousands) Total assets
Total liabilities
Total debt
Total shareholder’s equity RL

JNY

LIZ

$4,648,900
$1,532,300
$282,100
$3,116,600

$2,332,400
$1,194,200
$535,100
$1,138,200

$1,605,905
$1,389,355
$516,146
$216,548
Table 11

Ralph Lauren has the most in assets due to global expansion and size. Ralph Lauren has the lowest debt as well, showing they are timely on paying their debts, and decreasing debt is a key focus for
Ralph Lauren.

RATIO COMPARISON

Table 12

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Ralph Lauren took a few years to top the industry in this category but is recently at the top with
3.05. Ralph Lauren is extremely skilled in its capability to pay off its obligations. Ralph Lauren’s products are turned into cash relatively quickly. The Jones Group also has a strong current ratio.

Table 13

Ralph Lauren’s low numbers in comparative debt to total assets shows that Ralph Lauren is progressively becoming less dependent on debt to grow their business.

Table 14

Ralph Lauren is leading the industry in net profit margin, being the only competitor operating in a positive percentage.

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*ROOT PROBLEM: International expansion efforts have not yet taken advantage of all potential markets
STRATEGY #1- NO
Market Penetration. Ralph Lauren has been experiencing great success for the most part but their revenue has been fluctuating over the past few years. Ralph Lauren could be more profitable with their current products if they made greater marketing efforts. These marketing efforts could help them gain more customers and bring in more revenue in future years.
• 180 day (6 months) advertising campaign featuring celebrity Blake Lively
• Lively has already been seen wearing Ralph Lauren
• 6 commercials total (each runs 3x per day for 30 days)= 540 commercials total
COST BREAKDOWN

Table 15

TOTAL CAMPAIGN COST
Table
16

13

WHY NOT?
• Too expensive. In the past Ralph Lauren has only spent $170M-$180M on advertising. There is no need for them to nearly double their budget on this project.
• A campaign like this is not necessary for a brand that is already as well known as Ralph Lauren is.
• Ralph Lauren is currently very successful in the U.S., and this does not help solve root problem.
STRATEGY #2- NO
This would be a strategy of forward integration for Ralph Lauren. Ralph Lauren relies heavily on external retail stores for generating revenue—Macy’s retail stores accounts for 19% of all wholesale revenue for Ralph Lauren. Acquiring Macy’s would give Ralph Lauren control over these sales and reduce some of the risk by displaying and marketing their products within the store however they like.
WHY NOT?
Macy’s is far too large to acquire and way too big of an entity for Ralph
Lauren to take on. Ralph Lauren does not have the money or resources to keep Macy’s running as strong as it is now. Macy’s also caters to competitors of Ralph Lauren and this would cause a conflict of interests. This also does not address the root problem.

STRATEGY #3- YES
Market Development: Open Ralph Lauren flagship store in South Pacific region- Sydney, Australia.
Why Sydney?
•Population 4.6M
•Average 2-4M international visitors per year
•Host international sporting events
•Main economic hub of Australia

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•Sydney provides 24% of Australia’s GDP (213B)
•City ranked 15th in world for net earnings
•Median age of Sydney 34 years
Sydney would be ideal for Ralph Lauren specifically because this is an outlet to introduce the Ralph Lauren retail experience to South Pacific region of the world. This strategy would utilize Ralph Lauren’s Sustainable Competitive Advantage and core competencies. Expanding to Sydney helps solve Ralph Lauren’s root problem of utilizing potential markets. This strategy fits in with Ralph Lauren’s expansion efforts through creation of flagship stores.
This new flagship store would be located at the Westfield Sydney. It is a premiere shopping center with approximately 250 retailers and is known as the premier shopping destination in the country.

Table 17

TIMELINE
YEAR 1

- Speak with leasing agent at Westfield Sydney
- Set up visit to check out leasing space
- Plan design and construction of flagship store

YEAR 2

- Construction of interior of store
- Aim to open up shop by end of year

YEAR 3

- Open store, focus on advertising and promotion
- Begin planning locations for more Ralph Lauren retail locations in area

15

Table 18

Table 19

Table 20

16

Table 21

Table 22

The long-term effects of this strategy would result in a lower net income initially due to the construction costs in the first few years. After the construction, however, there will be a significant increase in revenue, gross profit, and therefore net income.

17

Table 23

The increase in shareholder’s wealth resulting from this strategy is a steady increase as time goes on. There is around a $1,000,000,000 increase each year.

18

Ralph Lauren’s return on investment is unchanged in the first year due to the planning stages, decreased the second year due to the construction expenses and from there starts on a steady increase.
Once the store is open and begins generating revenue, the return on investment will steadily increase.

COMPANY UPDATES
In 2007, Ralph Lauren had only a year left on his contract to run the design empire he founded.
Mr. Lauren re-upped his contract to go through March 2013, when he will be 73. His five-year extension could be worth much more than $100 million.
Ralph Lauren is currently looking to reclaim the Asian market. They are currently buying back licensing arrangements they have in this part of the world and are updating products for the region with customization of product and color. Ralph Lauren is also looking to invest more internationally and less domestically due to the current state of the economy. They find their domestic consumer spending is declining in the luxury goods market. Ralph Lauren was fortunate to already have the spread of price points domestically because this saved them in the recession and prevented them from having to lower prices or rethink their distribution strategies.

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...countries have experienced a rapid rise in Internet usage in recent history. China, in particular, has seen 40% of its population (or 500M people) connect to the Internet in the past 10 years, and continues to experience an increase in its user base. This large user base, coupled with a rise in wealthy households and per capita spending, is driving a dramatic increase in e-Commerce retail, specifically in the luxury goods space. Consumption of luxury goods in China has reached $9.4B in 2010, second only to Japan in the world. As luxury purchase rates continue to increase in China, luxury fashion brands are investing many resources to understand the customer, develop the market, establish the supply chain, and deliver the products. Polo Ralph Lauren (PRL), in order to continue its growth in China, is expanding aggressively through license reacquisitions and retail store developments. Furthermore, to provide its existing customers with additional products and enhanced services, and to capture consumers who live in cities without access to PRL's brick and mortar stores, PRL has set its vision to develop an e- Commerce business in China. This thesis provides a fundamental understanding of PRL's current business operations and of current e-Commerce fulfillment models for luxury apparel brands in China. An assessment of gaps was also conducted between current fulfillment operations of PRL and those of other luxury brands and 3PLs operating in China, specifically on delivery......

Words: 334 - Pages: 2

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Burberry

...Overview Burberry is a fashion and luxury company which creation remounts to 1856, when Thomas Burberry opened a draper’s shop in Basingstoke, England. Burberry-lined trench coats, worn by British soldiers in WWI, became a company icon. This brand was highly dependent on licensing and distribution arrangements and had a narrow set of products. Around 1980s the company started making losses because of its old-fashioned products, so in 1997 Rose Marie Bravo assumed the leadership of the company. Bravo and her team had a main objective that was to revitalize the brand, updating the product line, expanding the brand portfolio and creating new advertisement campaigns. Question 1 - Marketing Situation Company: Burberry is a company that nowadays sells a wide range of luxury products; they sell from apparel to accessories as handbags, shoes, hats, ties, and so on, and to licensed products as fragrances or eyewear. The brand is known for its heritage, history and functionality. Burberry wanted to create the image of an accessible luxury. In the 1920s Burberry was introduced as a registered trademark, and was seen as a symbol of luxury and durability, after that by the 1990s Burberry was sold to a British company, Great Universal Stores Plc. (GUS) and by the 1970s GUS management agreed to license the brand in Japan. The product started to grow worldwide, but due to the fact that a wide range of product categories become licensed the products began to vary across markets (price,......

Words: 1738 - Pages: 7