Fashion brand Ralph Lauren appoints former LVMH executive as its new president.
Ralph Lauren, the iconic American fashion brand, is making strides in its international growth strategy with the announcement of a new store opening in Spain. The store, set to be the brand's first flagship in the country, will be located in Madrid and is expected to contribute significantly to Ralph Lauren's overall sales growth.
The new store is a sign of the brand's commitment to expanding its presence in key markets. It marks another step in Ralph Lauren's international growth strategy, as the company seeks to strengthen its brand in Spain and Europe.
Accompanying this expansion is a change in the top management of Ralph Lauren. Daniel Lalonde, a seasoned executive with a decade of experience in the luxury goods industry, has been appointed as the new international president of Ralph Lauren. This will be Lalonde's first time working for an American fashion brand.
Lalonde's appointment marks a significant change, as he has previously worked for prestigious brands such as Louis Vuitton, Tag Heuer, and Moët & Chandon, all of which are part of the French giant LVMH. His mission at Ralph Lauren is to strengthen the brand's presence in countries such as Europe and Asia.
The new store will be located just meters away from the new Abercrombie & Fitch store, a location that is expected to attract a significant number of customers. The store's proximity to other high-end retailers is likely to boost foot traffic and contribute to the brand's sales growth.
Ralph Lauren expressed confidence in Lalonde's leadership skills in the industry, believing that his expertise will be instrumental in driving the brand's success in Spain and beyond. The exact name of the new Chairman of the Board for Ralph Lauren in Europe and Asia and the start date of his activity are not yet known.
The US company closed the first half of its fiscal year with a 28% increase in sales, reaching $3.4 billion (€2.467,9 million). This increase suggests a strong performance for the brand in the first half of its fiscal year, and the new store in Spain is expected to continue this momentum.
The new Ralph Lauren store in Spain is a significant expansion for the brand in Europe, and it underscores the company's commitment to growing its presence in key markets. With the appointment of Daniel Lalonde as the new international president, Ralph Lauren is poised for continued success in the global fashion industry.
