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Ralph Lauren Corp. chief executive officer Patrice Louvet said demand for its signature clothing such as cable-knit sweaters remains strong, even as the fashion industry is buffeted by tariffs and an economic slowdown.
“Our core consumers are actually still very resilient,” Louvet told Bloomberg TV on Thursday. Customers facing more economic uncertainty are turning to familiar brands including Ralph Lauren, he said. “When you look at the part of our lineup that is responding really nicely right now, it’s our core products.”
The company, known for its menswear such as Oxford shirts and tweed jackets, said in May it expects robust revenue growth to ease in the latter part of this year in response to cautious US consumer spending.
The impact of President Donald Trump’s trade policy is still uncertain, Louvet said, though he added that a diversified supply chain — Ralph Lauren sources fewer products from China than its peers — will help it. He also said its pricing power would allow Ralph Lauren to do “promotional activities” if needed.
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Louvet also cited womenswear, which he said is currently a $2 billion business for the company, as a “significant opportunity” for Ralph Lauren.
Shares of Ralph Lauren are up just over 25 percent this year through Wednesday’s close, outperforming peers in the fashion industry.
Louvet was in London during the Wimbledon tennis championships, which Ralph Lauren sponsors. He said cricket is another “potential opportunity” for the company to add to existing sports deals including with the US Ryder Cup golf team, New York Yankees star Aaron Judge and Formula 1 driver Lando Norris.
By Elliot Burrin
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