Exclusive | Ralph Lauren’s ‘cluster approach’ to growing its business in China, world’s biggest luxury market by 2030

Global fashion retailer Ralph Lauren will continue building its China bricks-and-mortar presence as it leverages its growing brand value in what is forecast to become the world’s largest market for luxury goods by the end of the decade.

The company plans to open around 20 to 30 new stores per year in China, where it has already deployed extensive digital marketing strategies in the world’s biggest e-commerce market, and a similar number across the region.

“We’re seeing brand perception continue to strengthen, so we think we have a game plan that is working in a market like China,” said its CEO, Patrice Louvet, in an interview with The Post, citing a three-pronged strategy of growing its presence in key cities, driving its core products, and strengthening the brand through marketing and partnerships.

“China is our most advanced market when it comes to digital activation, whether that is with JDTmall, but also with all the social media platforms, the latest one being Douyin, where we’re experimenting and are very encouraged by the initial results,” he said.

China is a key market for the New York-headquartered company, and its signature products – polo shirts emblazoned with the company’s iconic logo, cable-knit sweaters, and blazers – are now a hit with Chinese customers amid changing consumer tastes and turbulence in the luxury sector. It now operates multiple brands under the Ralph Lauren umbrella, having expanded into hospitality with an eponymous coffee line and bar on top of its apparel and lifestyle products.

Last year, a limited-edition collection it developed with Mr Bags, an influencer with millions of followers on Chinese social media, sold out in under a minute on WeChat, while its Singles' Day sales increased 25 per cent from a year ago despite price increases and fewer discounts, according to its most recent earnings report.