Ralph Lauren is planning to open 250 retail stores over the next three years, as it shifts from department stores to its own brand outlets.
At a presentation on the apparel firm's investor day this week, CEO Patrice Louvet said the strategic growth plan addresses current sales patterns in which a majority of the company's business is coming from its direct-to-consumers channels.
Louvet told investors that Ralph Lauren has exited two-thirds of the department stores that were carrying its brand, reducing the company's "off-price exposure" by 50%.
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