Ralph Lauren takes the scis­sors to global em­pire

The Daily Telegraph - Business - - Business -

Lux­ury fash­ion de­signer Ralph Lauren plans to cut 15pc of its global work­force – around 3,700 jobs – and in­vest more in its on­line busi­ness. De­mand for lux­ury goods has fallen due to the pan­demic, but on­line sales are in­creas­ing. Chief ex­ec­u­tive Pa­trice Lou­vet said trends that be­gan be­fore coro­n­avirus were quick­en­ing, and it was “fast-track­ing” plans ac­cord­ingly.

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