Word: ralphs
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...like trying to sell ice to the Eskimos," says a London fashion writer. "It's like trying to sell sand to the Arabs," sniffs an executive at a competing British fashion house. The news that Ralph Lauren, the icon of American style, is pushing hard to expand in Europe is being greeted with a certain degree of skepticism. And bitchiness. Who needs a mass American brand like Lauren's when you have the class of Armani, Zegna, Dior and Savile Row? Sure, Europeans are happy to wear a polo player by Lauren instead of an alligator by Lacoste when summering...
...logo shirt or golf jacket. He wants nothing less than to meet the European designers head on. What's more, he feels he has to. Although Lauren is the world's biggest-selling fashion designer (retail customers spend more than $10 billion a year on products bearing the Ralph Lauren name), Wall Street dismisses Polo Ralph Lauren as just another apparel company. If financial analysts would consider it a purveyor of luxury goods, the stock price--and Lauren, who owns 89% of the company--would be all the richer...
...private plane (he has one of those too) that is pushing Lauren to expand. It's pride. Lauren doesn't talk about his stock price in monetary terms. He calls it "a report card, which gets issued every day." And right now--with the stock of Polo Ralph Lauren hovering around $20, some $10 less than its IPO price--the company is getting poor marks. "When I went public, I had a great business," Lauren says. "I don't think the company has gone backward." Global expansion, he hopes, will prove to Wall Street that he's not just...
...CHARLES has decided to produce a line of clothing. The move is an effort to help England's struggling rural economy. Described as "country casual," the line's scarves, sweaters and tweed suits will be made from the wool of British sheep, with proceeds going to charity. Considering that Ralph Lauren has made a fortune for years offering ersatz copies of the prince's wardrobe, it's about time Charles reclaimed his closet...
...appreciated your interview with activist Ralph Nader [10 QUESTIONS, Aug. 5]. Nader's powerful intelligence, grace and wit never cease to impress the open mind. His insights into the serious imbalances and blind spots of the American corporate structure are penetrating, yet he is surprisingly optimistic and even humorous at times. We desperately need leaders like Nader--truly in touch with the fundamental realities that are shaping our lives and our world--and courageous enough to speak up strongly. SCOTT HESS Petaluma, Calif...