We visited Ralph Lauren's flagship Polo store hours after the company said it would close and saw why the brand is failing
The Fifth Avenue location will be one of dozens of stores that the company will shutter in an effort to cut costs and improve efficiency.
In the last quarter, same-store sales declined 5% compared to the same period a year before.
The brand is struggling to connect with millennials, stay relevant, and keep up with fast-fashion brands like H&M, Uniqlo, and Zara.
We visited Ralph Lauren's Polo store on Fifth Avenue the same day the company announced it would close. The store was full of unfashionable clothes and lacked shoppers, despite being located on one of the busiest streets in New York. Take a look inside:
- Over 60 schools in and around Bengaluru receive bomb threat, students evacuated safely
- TVS Motor Co sales rise 31% to 3,64,231 units in November
- Johnny Depp unknowingly taught Ranveer Singh the craft of acting
- Midcap index rising for last 21 sessions, hitting fresh highs since November 16
- Global smartwatch shipments up 9% in Q3, Fire-Boltt & Huawei hit new highs: Report