Ralph Laurenhas announced that it will continue to raise its prices. The brand’s latest business development is an effort to boost brand prestige.
Since 2018, the quintessential American brand has increased the average price of its goods by about 80%. However, the brand’s gross margins last quarter were 61.7%. So the mission to continuously raise prices also coincides with boosting these figures to meet competitors like Tapestry Inc. and Capri Holdings Ltd. Read more at Hypebeast.