As part of its 'Way Forward Plan' to return the company to sustainable and profitable growth, fashion retailer Ralph Lauren announced several key actions. The key actions include moving to a more cost-effective and flexible ecommerce platform, which is expected to deliver a more consistent customer experience across the global digital ecosystem.
Additionally, the retailer will close its dedicated Polo store at 711 Fifth Avenue and integrate its product into the Ralph Lauren men's and women's flagship stores on Madison Avenue and its downtown locations, but will continue to operate seven additional store locations.As part of its 'Way Forward Plan' to return the company to sustainable and profitable growth, fashion retailer Ralph Lauren announced several key actions. The key actions include moving to a more cost-effective and flexible ecommerce platform, which is expected to deliver a more consistent customer experience across the global digital ecosystem.#
These actions with other initiatives to streamline the organisation, cost structure and real estate portfolio, will result in approximately $140 million in annualised expense savings.
According to Ralph Lauren, these savings are in addition to the $180-$220 million of annualised expense savings announced at its Investor Day in June 2016. (AR)
ALCHEMPro News Desk – India
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