Marketing History Of Ralph Lauren

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Ralph Lauren Corporation was founded in 1967 by an American entrepreneur named Ralph Lauren who is also the executive chairman and the chief creative officer of the corporation. Ralph Lifshitz, who later changed his name to Ralph Lauren, was born on October 14, 1939 in New York. Ralph graduated high school and studied business for two years in Baruch College, located in Manhattan. Ralph Lauren worked at Brooks Brothers on a sales job where he started to be interested/passion in the formal fashion sense. Later, he was known for his unique sense of fashion which he was inspired by magazines, screen icons, actors and etc. Rather than going straight into business, he began designing his own neckties while working for Beau Brummell since he didn’t have the proper resources. Since plain, narrow neckties was the norm, he saw an unmet market need so he created wide, colorful neckties. He was able to sell these ties at large department stores under the brand name “Polo”, which sold well and started a new trend. Later, Ralph Lauren took the risk to start his own business by only …show more content…

He released a line for tailored suits for women in a classic men’s style. Ralph’s business plan was going well since he wanted to customize clothes to the latest fashion and targeted all ages and gender. Ralph Lauren brand did not get business by selling clothes, but with them going public in 1997 trading under the symbol RL they were able to double dip since they had product lines for clothing, fragrances, fine gifts, bedding, handbags, watches, products for home like pillows, and even a tribute book of Ralph Lauren’s evolution, designs and picture. The corporation had a defensible competitive advantage by having many varieties of product for all targets. They are able to dominant all companies and this can make them aggressive. Most successful corporations have competition, Ralph Lauren’s competitors were Burberry, Lacoste, Hollister and

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