Ralph Lauren Plans to Increase Prices Even More

Ralph Lauren is one of the most iconic American designers with one of the biggest brands in the men's fashion industry. Unfortunately, the beloved brand made an announcement this week that will come as quite a disappointment to its customers.

Like most businesses throughout the United States, Ralph Lauren has had to navigate the sweeping and wide-reaching import tariffs imposed by the Donald Trump administration. Last week, the brand announced that it would raise its prices more than previously planned in order to offset the tariffs.

The move comes as the brand had already been shifting its focus toward younger and more high-end customers who are less sensitive to price increases, Chief Financial Officer Justin Picicci said last week.

“We’ve been on this multi-year journey to shift our customer base towards less price-sensitive consumers, especially in the full-price channel,” Picicci said on a call with analysts according to the Wall Street Journal.

Ralph Lauren has already seen success in raising its prices as the company reported larger profits and a jump in revenue for the first three months of the year as a result of those higher prices and lower cotton costs.

The company was already planning to increase prices even more for some items in the fall, but after the Donald Trump administration's tariff policy, the brand is now looking to increase prices even more in the fall and next year's spring. The company also said it will try to minimize the impact by making adjustments to its supply chain.

Obviously, this is some disappointing news for Ralph Lauren customers as it indicates that prices are only going to go up, especially as those increased prices have led to increased profits for the beloved American clothing brand.