Ralph Lauren Corporation is a global fashion company that has become a leader in designing, marketing, and distributing products such as apparel, accessories, fragrances, etc. Ralph Lauren's mission and vision statements are a testament to the company's dedication to designing authentic products while keeping the costumers' wishes in mind.
The company's history dates back to 1967 when the young Ralph Lauren designed a new line of ties. It didn't take long for the name to be recognized as a top men's fashion brand that revolutionized the industry.
From the iconic Polo to the rest of the products they offer, people seek out Ralph Lauren because of their timeless designs.
Their brands include Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children, Chaps, and Club Monaco, etc.
Today we are analyzing Ralph Lauren’s mission and vision statements to get a glimpse at how this successful company moves forward.
Ralph Lauren’s Mission Statement Analysis
Ralph Lauren's mission statement is “to offer, along with our licensing alliances, broad lifestyle product collections with a unified vision.”
As a top global men's fashion brand, Ralph Lauren offers a full range of products, mid-range to full luxury. Their products cater to a variety of consumer needs yet they maintain their own unique style. They have consistently demonstrated integrity between their mission and their action.
A defining aspect of Ralph Lauren Corporation is its focus on keeping a talented, engaged, and enabled team. This characteristic is not surprising, the man behind the brand, Ralph Lauren, set the standard himself by building the brand from scratch relying on talent, hard work, and innovation.
Ralph Lauren works towards their mission statement with a strategy they call, the Ralph Lauren Way: Love what you do, be passionate, work hard, work together, take risk, stay real, never compromise, aspire to the best.
Ralph Lauren’s Vision Statement Analysis
Ralph Lauren’s vision statement is “To inspire the dream of a better life through authenticity and timeless style.”
In 2018, they published the Next Great Chapter plan that promised to “deliver sustainable, long-term growth and value creation”. Ralph Lauren's vision statement is their first step to achieve this plan, it emphasizes creating value by sticking to the authenticity and unique style that has set the brand apart throughout their history.
Also, because of the environmental and sustainability concerns of future generations, Ralph Lauren plans to make sustainable products. For example, the company has committed to replacing all poly-fibers in its products with recycled poly-fibers by the year 2025.
They name their strategic priorities as follows:
- Winning over a new generation
- Energizing their core products while building up less developed categories
- Targeted expansion
- Lead with digital (digital expansion)
- A disciplined operation that fuels growth
Ralph Lauren’s Core Values Analysis
Ralph Lauren is guided by three core principles of “consumer at the center, elevate and energize the brand, and balance and productivity.”
Ralph Lauren's mission and vision statements are built upon these core values. The focus on the consumer, balance, productivity, and sustainability, with an emphasis on innovation and growth, has made them a top fashion brand throughout the globe.