Ralph Lauren Mission Statement Analysis

Company: Ralph Lauren Corporation
CEO: Patrice Louvet
Year founded: 1967
Headquarters: New York, New York, USA
Number of Employees: 23,400
Type: Public
Ticker Symbol: RL
Market Cap (Feb 2025): $15.46 Billion
Annual Revenue (2024): $6.63 Billion
Profit | Net income (2024): $646 Million

Products & Services: Clothing | Accessories | Fragrances | Home Decor | Hospitality

Did you know? Ralph Lauren’s founder began his fashion career as a tiemaker and sold ties from a drawer in a showroom at the Empire State Building.

Ralph Lauren is an American luxury lifestyle company founded in 1967 by fashion designer Ralph Lauren. It owns iconic brands across various niches, including apparel, footwear, accessories, home, fragrances, and hospitality. Each brand adheres to Ralph Lauren’s mission, ambition, values, and sustainability goals, ensuring uniformity, growth, and success. In 2024, the company generated $6.63 billion in annual revenue, with $646 million in profit. [1]

Ralph Lauren is a global luxury lifestyle leader. It has dominated this niche for over 50 years by maintaining an excellent reputation and distinctive image across its products, brands, distribution channels, and international markets in the design, marketing, and distribution of luxury lifestyle products in five categories: apparel, footwear & accessories, home, fragrances, and hospitality. Consumers can rely on Polo for classic sportswear and tailored clothing, Ralph Lauran for lifestyle collections, and Chaps for modern lifestyles with timeless style. In 2024, Ralph Lauren added over 5 million new customers to its direct-to-consumer (DTC) channels after record-level holiday customer acquisition. Its annual revenue increased by 3%. [2]

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To understand why Costco is so successful, here is a comprehensive analysis of its mission statement, values, and sustainability goals:

Ralph Lauren’s Mission Statement

To inspire the dream of a better life through authenticity and timeless style.

Ralph Lauren Corp states,

Each word is deliberate, deeply rooted in our history and culture. Inspiring the dream of a better life is not about material status but about a life filled with hope, possibility, and a sense of realness that never goes out of style. [3]

Here is our analysis of Ralph Lauren’s mission statement:

1. Inspire a better life

Ralph Lauren strives to inspire a better life. The company achieves this mission through its collections and programs. In Dec 2024, the Ralph Lauren Internship summer program opened for applications. Students can join this initiative to work with renowned names in the fashion industry. It provides aspiring professionals with hands-on experience in marketing, design, and business operations within Ralph Lauren’s innovative and dynamic environment. Participants can develop talent and leverage this internship as a stepping stone to build their fashion design careers. [4]

Ralph Lauren inspires a better life through sports. The company partners with athletes and teams to showcase its innovative designs and clothing technologies to fans globally. In Jun 2024, Ralph Lauren unveiled Team USA’s opening and closing ceremony uniforms for the Olympic and Paralympic Games Paris 2024. It is Team USA’s Official Outfitter. The 2024 parade uniforms delivered the heritage of sporting elegance into the modern era to celebrate Ralph Lauren’s classic styles and showcase iconic American design on the global stage. [5]

2. Enhance fashion lovers’ authenticity

Ralph Lauren strives to deliver authentic designs, proclaiming the wearer’s identity and stylish look. The company believes fashion should never go out of style. For example, Ralph Lauren’s spring-summer 2024 collection celebrated classic American style infused with expressive individuality. It encourages the freedom of personal style, epitomizing the spirit of timeless and modern looks, bold yet romantic, and staying true to oneself. Authenticity runs deep in Ralph Lauren’s DNA. [6]

3. Deliver timeless, stylish products

Ralph Lauren is obsessed with timeless style. Each Ralph Lauren has classic fashionwear collections. For example, Polo offers classic sportswear and tailored clothing for women, men, and kids. Chaps provides classic items updated for modern lifestyles, while Lauren delivers lifestyle collections for women with modern femininity and timeless style. In Dec 2024, the designer presented its pre-fall 2025 assortment. This collection demonstrated Ralph Lauren’s elevation, stalwart American chic, and subtle design evolution for a younger generation. [7]

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Ralph Lauren’s Ambition

We will be a Leading Luxury Lifestyle Company.

Ralph Lauren seeks to be a global luxury lifestyle leader. The company outlined its 3-year Next Great Chapter: Accelerate plan in Sep 2022 to deliver sustainable, long-term growth and value creation. This plan is driven by the company’s purpose, which defines its identity and ambition. Next Great Chapter: Accelerate is guided by Ralph Lauren’s three strategic growth drivers and five core capabilities to unlock its potential and sustain momentum in the long term. [8]

Ralph Lauren combines several strategies to solidify its global leadership. For example, the company uses summer internships to nurture future designers and fashion professionals. It also outfitted Team USA at the Paris Olympics and sponsored Wimbledon and the US Open to promote its products globally. In Dec 2023, Ralph Lauren launched Polo Ralph Lauren x Naiomi Glasses, the inaugural collection of the brand’s Artist in Residence program. The company uses this program to collaborate with artisans with different skill sets. Artist in Residence preserves Ralph Lauren’s heritage craft and shifts the brand’s efforts from inspiration to community collaborations, strengthening its global leadership. [9]

Ralph Lauren’s Values

Ralph Lauren brands are united by shared values. The company defines these principles as the Ralph Lauren Way. It encourages consumers and employees to love what they do, be passionate, work hard, embrace individuality, work together, take risks, stand up for their beliefs, and aspire to the best. Ralph Lauren states, “The Ralph Lauren Way is what built this company; these values are enduring and will help carry us into the future.” [10]

How does Ralph Lauren live by its values?

1. Love what you do and be passionate

Ralph Lauren is passionate about fashion. The brand was founded in New York, where the founder sold men’s ties in 1967. Its menswear launched in 1968, followed by the first-ever The Polo by Ralph Lauren boutique in 1970. “I have always been inspired by New York City. It’s a place of beautiful contradictions, timelessness, magic, luxury, and aspiration,” said Lauren, the founder, “It has a culture and style all its own. It’s my city — where I first started, where dreams are made and come true.” In Aug 2024, Polo Ralph Lauren returned to New York for its fall 2024 campaign. The ad captures the founder’s sentiments and celebrates the company’s first Bloomingdale store. [11]

2. Work hard

This value is the founding block of the Ralph Lauren brand. Ralph Lauren was born Ralph Lipschitz, the youngest son of Jewish immigrant parents living in the Bronx. He was an aspiring fashion designer when he started selling men’s ties. In 1957, the founder wrote “millionaire” as one of his life goals in the DeWitt Clinton High School yearbook. He worked hard to realize his dream and sold $500,000 worth of ties in one year. “Ralph doesn’t sit on his laurels for one minute,” Lauren’s protégé John Varvatos told Bloomberg. He relentlessly expanded his company despite quick success. By 2015, Ralph Lauren had an estimated net worth of $7 billion. [12]

3. Embrace individuality

Ralph Lauren has dominated the luxury lifestyle space by keeping its design ideas simple. The founder envisioned clothing that he would want to wear, clothing fit for a movie star. For example, Ralph Lauren’s spring-summer 2024 collections celebrate classic American style infused with expressive individuality. Its womenswear with romantic allure and Purple Label suits with artisanal craftsmanship embrace timeless elegance and the freedom of personal style. These qualities define the Ralph Lauren brand.

4. Work together

Ralph Lauren values constructive partnerships. For example, the company launched the Artist in Residence program to collaborate with artisans from diverse backgrounds. The program seeks to honor heritage crafts and celebrate American culture through design, products, and marketing. In Oct 2024, Ralph Lauren partnered with Diné (Navajo) artist Zefren-M to launch Double RL x Zefren-M. It is the second collaboration of the Artist in Residence program. [13]

5. Take risks

Ralph Lauren values risk-takers and encourages consumers and employees to venture outside their comfort zones. The company lives by this principle by taking calculated risks. In Mar 2021, Ralph Lauren became the first luxury fashion brand to enter the fashion rental market, providing access to its collections without the commitment of ownership. This daring move, called “The Lauren Look” subscription box, paid off in the US and increased customer loyalty. [14]

6. Stand up for what you believe in

Ralph Lauren is defined by its founder’s controversial opinions on fashion. “I am not a fashion person. I am anti-fashion,” Ralph Lauren said, “I am interested in longevity, timelessness, and style.” Since its launch, the company has captured what consumers desire from a luxury brand by focusing on classic designs and luxurious materials. Its elegant stores and unique blend of timeless and new-age identity appeal to consumers across age groups. Maintaining simplicity and the perfect balance between the classics and the latest trends is built into the brand’s core. [15]

7. Aspire to the best

Ralph Lauren encourages employees and consumers to achieve their full potential. For example, aspiring fashion designers can join the Ralph Lauren Internship program to acquire hands-on experience. INSPIRE interns work with professionals in specific Ralph Lauren departments, such as design, marketing, and business operations. They can use the internship to build a successful career in fashion. [16]

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Ralph Lauren Sustainability Goals

Ralph Lauren is committed to building a business that benefits people and protects the planet. The company set several climate targets to minimize its environmental impact. Here are a few of Ralph Lauren’s sustainability goals:

Achieve net zero GHG emissions across the value chain by 2040 from an FY20 base year.
Reduce absolute Scope 1, 2, and 3 GHG emissions by 30% by 2030 from an FY20 base year (SBTi-approved).
Power company-owned and operated offices, distribution centers, and stores with 100% renewable electricity by 2025.
Increase the share of low-carbon materials in its products.
Expand and accelerate decarbonization practices with its product manufacturing suppliers.
Prioritize ocean freight and minimize air freight to transport its products.
Invest in its efforts to advance a circular fashion industry. [17]

How is Ralph Lauren progressing on its sustainability goals?

Ralph Lauren acknowledges the risks posed by climate change. It is working to reduce its GHG emissions to help protect and preserve the planet. In 2024, Ralph Lauren delivered its iconic Denim Flag Trucker Jacket as Cradle to Cradle (C2C) Certified. The brand launched the first Global Recycled Standard (GRS) certified 100% Recycled Cotton Polo. It also introduced its first collection of Responsible Wool Standard (RWS)-certified sweaters, reduced coal usage in its manufacturing supply chain, and decreased its absolute emissions by 33% against a FY20 baseline. [18]

Ralph Lauren launched the Ralph Lauren Corporate Foundation in 2001 to champion equity and empower underserved communities globally. It is committed to making a difference by supporting cancer care and prevention, protecting the environment, fostering advocacy, and strengthening community resilience. In 2024, the Ralph Lauren Corporate Foundation gave $6.6 million to over 140 nonprofits. The company provides scholarships to students annually through its partnership with the Institute of American Indian Arts.

Ralph Lauren’s vision for timelessness inspires what and how the brand creates fashion. The company engages with its teams and communities to advance citizenship and sustainability. As of 2024, 97% of Ralph Lauren’s cotton was sustainably sourced, polyester at 87%, wool at 92%, viscose at 78%, down at 100%, tanned leather at 90%, and cashmere at 85%. The brand decreased water use across its operations and value chain by 26% from its FY2020 baseline and used sustainable packaging in 79% of its packaging volume. [19]

References

Sabanoglu, T. (2024, Nov 8). Revenue Polo Ralph Lauren 2002-2024. Statista
Ralph Lauren Corporation (2024, May 23). Ralph Lauren reports Fourth Quarter and Full Year Fiscal 2024 Results ahead of expectations. RalphLauren.com
Ralph Lauren Corp (2022, Sep 22). Strategy: Our Purpose. RalphLauren.com
Ralph Lauren (2024, Dec 18). The Ralph Lauren Internship Program is Officially Open for the Summer 2025 Season. MariaHedian.com
Ralph Lauren (2024, Jun 18). Ralph Lauren Unveils Team USA’s Opening and Closing Ceremony Parade Uniforms for the Paris 2024 Games, Continuing Ralph Lauren’s Legacy at the Intersection of Style & Sport. Business Wire
Saini, N. (2024, Jul 1). A look at Ralph Lauren’s spring-summer 2024 collections. Tatler Asia
Moore, B. (2024, Dec 20). Ralph Lauren Ends 2024 With Another Fashion Win. Yahoo Lifestyle
Ralph Lauren Corp (2022, Sep 22). Next Great Chapter: Accelerate. RalphLauren.com
Ralph Lauren (2023, Dec 5). Ralph Lauren Presents First Artist in Residence Collaboration. Business Wire
Ralph Lauren Corp (2022, Sep 22). Strategy: Our values. RalphLauren.com
Carversville, A. (2024, Aug 23). Polo Ralph Lauren FW 2024 ‘Ralph’s New York’ Campaign by Lachlan Bailey. Anne of Carversville
Elkins, K. (2020, May 4). From dirt poor to a $7 billion fortune — the incredible rags-to-riches story of Ralph Lauren. Business Insider
Ralph Lauren (2024, Oct 29). Ralph Lauren continues the Artist in Residence Program with Double RL x Zefren-M Collaboration. RalphLauren.com
Danziger, P. (2021, Mar 3). The Rewards Outweigh The Risks As Ralph Lauren Launches A Subscription Rental Program. Forbes
Roll, M. (2024, Aug 15). Ralph Lauren – A Brand Capturing The American Spirit. Martin Roll
OD Staff (2024, Dec 7). Ralph Lauren Inspire Summer Internship 2025. Opportunity Desk
Ralph Lauren (2024, Sep 18). RL: 2024 GCS Report. RalphLauren.com
Ralph Lauren Corporation (2024, Sep 18). Ralph Lauren releases the 2024 Global Citizenship & Sustainability Report. RalphLauren.com
Lockwood, L. (2024, Sep 18). Ralph Lauren Releases 2024 Global Citizenship and Sustainability Report. WWD
Featured Image by Julia anseele

Ralph Lauren Mission Statement Analysis