17-03-2007 16:53
Ralph Lauren is set to take over Europe. The designer has plans to open up two new stores in Russian this spring. The stores will open in Tretyakoysky Passage and Baryikha Luxury Village.
The expansion is a joint venture between the designer and Mercury Distribution, a company which has vast experience of the fashion business in Moscow.
A second project for the designer will see him join forces with a Swiss luxury goods firm Compagnie Financiere Richemont to produce a new jewellry and watch line which will be based in Switzerland.
The plans for European expansion couldn't have come at a better time for the designer his American based fashion house Polo Ralph Lauren revealed a 31.5% rise in net income in the second quarter of last year to $137 million (£71.8 million) as well as a rise if 13.6% rise in revenue to $1.17 billion.
Ralph Lauren is on of America's most celebrated and successful designers. After leaving the army in 1968 he worked for Brooks Brothers as a salesman and created the polo label, a necktie business. This has since grown into a multi-billion dollar empire. He has gone on to launch Purple Label, Black Label, Rugby, RLX and Polo Denim. By Helen Earnshaw
Ralph Lauren
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