Ralph Lauren Corporation 10-K

 For the fiscal year ended April 2, 2022

 

 

 

Founded in 1967 by Mr. Ralph Lauren, we are a global leader in the design, marketing, and distribution of premium lifestyle products, including apparel, footwear, accessories, home furnishings, fragrances, and hospitality.

 

hospitality : friendly and generous behaviour towards guests / food, drink or services that are provided by an organization for guests, customers, etc.

 

 

 

For more than 50 years, Ralph Lauren has sought to inspire the dream of a better life through authenticity and timeless style. Our long-standing reputation and distinctive image have been developed across a wide range of products, brands, distribution channels, and international markets.

 

sought : PAST TENSE, PAST PARTICIPLE OF seek

 

authenticity : the quality of being true or what somebody claims it is

 

distinctive : ​having a quality or characteristic that makes something different and easily noticed

 

 

 

We believe that our global reach, breadth of lifestyle product offerings, and multi-channel distribution are unique among luxury and apparel companies.

 

breadth : the distance or measurement from one side to the other; how broad or wide something is / a wide range (of knowledge, interests, etc.)

 

 

 

We diversify our business by geography (North America, Europe, and Asia, among other regions) and channel of distribution (retail, wholesale, and licensing). This allows us to maintain a dynamic balance as our operating results do not depend solely on the performance of any single geographic area or channel of distribution.

 

diversify : diversify (something) (into something) (especially of a business or company) to develop a wider range of products, interests, skills, etc. in order to be more successful or reduce risk / to change or to make something change so that there is greater variety

 

 

 

We sell directly to consumers through our integrated retail channel, which includes our retail stores, concession-based shop-within-shops, and digital commerce operations around the world. Our wholesale sales are made principally to major department stores, specialty stores, and third-party digital partners around the world, as well as to certain third-party-owned stores to which we have licensed the right to operate in defined geographic territories using our trademarks.

 

integrated : in which many different parts are closely connected and work successfully together / including people from different races, sexes, religions, etc., especially ones who have previously been separated

 

 

 

In addition, we license to third parties for specified periods the right to access our various trademarks in connection with the licensees' manufacture and sale of designated products, such as certain apparel, eyewear, fragrances, and home furnishings.

 

specify : to state something, especially by giving an exact measurement, time, exact instructions, etc.

 

 

 

We organize our business into the following three reportable segments: North America, Europe, and Asia. In addition to these reportable segments, we also have other non-reportable segments. See "Our Segments" for further discussion of our segment reporting structure.

 

organize : organize something to make all the arrangements for something to happen or be provided / organize something to arrange something or the parts of something into a particular order or structure /  organize yourself/somebody to plan your/somebody’s work and activities in an efficient way

 

 

 

Our global reach is extensive, as we sell directly to customers throughout the world via our 504 retail stores and 684 concession-based shop-within-shops, as well as through our own digital commerce sites and those of various third-party digital partners. Merchandise is also available through our wholesale distribution channels at approximately 9,000 doors worldwide,

 

reach : reach something/somebody to arrive at the place that you have been travelling to / reach somebody to come to somebody’s attention

 

 

 

the majority in specialty stores, as well as through the digital commerce sites of many of our wholesale customers. In addition to our directly-operated stores and shops, our international licensing partners operate 148 stores and shops.

 

majority : the largest part of a group of people or things

 

 

 

We have been controlled by the Lauren family since the founding of our Company. As of April 2, 2022, Mr. R. Lauren, or entities controlled by the Lauren family, held approximately 85% of the voting power of the Company's outstanding common stock.

 

entity : something that exists separately from other things and has its own identity

 

 

 

 

(omitted)

 

 

 

 

Our Brands and Products

 

Our products, which include apparel, footwear, accessories, and fragrance collections for men and women, as well as childrenswear and home furnishings, together with our hospitality portfolio, comprise one of the most widely recognized families of consumer brands.

 

comprise : to have somebody/something as parts or members / comprise something to be the parts or members that form something

 

 

 

Reflecting a distinctive American perspective, we have been an innovator in aspirational lifestyle branding and believe that, under the direction of internationally renowned designer Mr. Ralph Lauren, we have had a considerable influence on the way people dress and the way that fashion is advertised throughout the world.

 

perspective : a particular attitude towards something; a way of thinking about something / the ability to think about problems and decisions in a reasonable way without making them seem worse or more important than they really are

 

renowned : famous and respected

 

considerable : great in amount, size, importance, etc.

 

 

We combine consumer insight with our design, marketing, and imaging skills to offer, along with our licensing alliances, broad lifestyle product collections with a unified vision:

 

combine : to come together to form a single thing or group; to join two or more things or groups together to form a single one / to have two or more different features or characteristics; to put two or more different things, features or qualities together

 

alliances : an agreement between countries, political parties, etc. to work together in order to achieve something that they all want / a group of people, political parties, etc. who work together in order to achieve something that they all want

 

 

 

Apparel — Our apparel products include extensive collections of men's, women's, and children's clothing, which are sold under various brand names, including Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Golf Ralph Lauren, Ralph Lauren Golf, RLX Ralph Lauren, Polo Ralph Lauren Children, and Chaps, among others.

 

 

Footwear and Accessories — Our range of footwear and accessories encompasses men's, women's, and children's, including casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and leather goods, including handbags, luggage, small leather goods, and belts, which are sold under our Ralph Lauren Collection, Ralph Lauren Purple Label, Double RL, Polo Ralph Lauren, Lauren Ralph Lauren, Polo Ralph Lauren Children, and Chaps brands.

 

encompasses : encompass something to include a large number or range of things / encompass something to surround or cover something completely

 

 

Fragrance — Our fragrance offerings capture the essence of Ralph Lauren's men's and women's brands with numerous labels, designed to appeal to a variety of audiences. Women's fragrance products are sold under our Ralph Lauren Collection, Woman by Ralph Lauren, Romance Collection, and Ralph Collection. Men's fragrance products are sold under our Polo Blue, Ralph's Club, Purple Label, Polo Red, Polo Green, Polo Black, Safari, Polo Sport, and Big Pony Men's brands.

 

numerous : existing in large numbers

 

 

Home — Our home collections, which are sold under our Ralph Lauren, Polo, Lauren by Ralph Lauren, and Chaps brands, reflect the spirit of the Ralph Lauren lifestyle. Our range of home products includes bed and bath lines, furniture, fabric and wallcoverings, lighting, tabletop, kitchen linens, floor coverings, and giftware.

 

 

Hospitality — Continuing to engage our consumers with experiential and unique expressions of the brand, our hospitality portfolio is a natural extension of the World of Ralph Lauren as expressed through the culinary arts. Ralph Lauren's global hospitality collection is comprised of our restaurants including The Polo Bar in New York City, RL Restaurant located in Chicago, Ralph's located in Paris, The Bar at Ralph Lauren located in Milan, and our Ralph's Coffee concept in various cities around the world.

 

experiential : based on or involving experience

 

culinary : connected with cooking or food

 

 

 

(the rest omitted)