NET WORTH:$5.8 BILLION
Age:78
Born:October 14, 1939
Country of Origin:United States of America
Source of Wealth:Entrepreneur
Last Updated:2018
Introduction
Ralph Lauren is one of the leading brand names in the fashion industry. His global multi-billion dollar franchise is a result of his fashion designing, philanthropism, and his dedication to the business.
Up until 2015, Lauren was serving as CEO of his company, but Ralph Lauren is no longer the CEO of his organization at present. Even so, he continues to remain the Executive Chairman and the Chief Creative Officer, nevertheless.
Ralph Lauren is responsible for bringing out the Polo design in men’s apparels, which is nothing short of a style statement even today.
The wide range of fragrances also adds to the amazing apparel collection taking it a notch higher than any other brand.
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As of 2018, Ralph Lauren’s net worth is $5.8 billion, which makes him the 91st richest person in America.
Early life
Ralph Lauren was born on the 14th October, 1939, in New York, United States.
Being the youngest of four siblings, Ralph Lauren was born to Jewish immigrant parents. In his mid-twenties to late-twenties, his work profile consisted of serving one company at a time to another; which gave him the interest and confidence to start his own clothing line.
He has a keen interest in collecting automobiles. His present collection includes some 70 odd cars with most of them being extremely rare species. Ralph Lauren also believes in sharing his wealth and riches with the ones who need it the most.
This is apparent from the fact that he co-founded the Nina Hyde Centre for Breast Cancer Research in Washington D.C.
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In addition to that, Ralph Lauren also actively donates to the Democratic Party, and is a regular as far as politics is concerned too.
Career
In between 1962 and 1964, Ralph Lauren was serving in the US army and briefly worked as a sales assistant for Brooks Brothers. Following this, he became a salesman for a tie company.
This is when his love for fashion designing started blossoming.
The birth of the Ralph Lauren Corporation happened with bringing out men’s ties. When Ralph Lauren was working for Beau Brummel; he convinced the President of the company to let him start his own clothing line for men.
And that is how the apparel collection of Ralph Lauren came into being.
Owing to his interest in sports, Lauren decided to name his men’s clothing line ‘Polo.’ One year later, in 1969, a department store in Manhattan called Bloomingdale’s was selling Lauren’s Polo clothing line of their own in-store boutique.
The women’s clothing line was launched in 1971 which saw the Polo player emblem sported on the women’s shirt cuffs. This was also the turning point for Ralph Lauren; since his first independent store opened up in California for direct access to customers.
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The beginning of 1978 saw the advent of Ralph Lauren’s fragrance in addition to its apparel collection. Lauren and Polo, fragrances for both women and men respectively were introduced and became an instant success.
The Ralph Lauren brand was extended internationally in the year 1981 with its own freestanding store in the West End of London, England.
Highlights
Over the years, Ralph Lauren has been awarded with plenty of achievements like the Designer Achievement Award and the Award for creativity in men’s and women’s wear.
In 1987, Ralph Lauren was even awarded with Retailer of the Year in addition to all of his previous and following awards.
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Favorite Quotes from Ralph Lauren
“I don’t design clothes, I design dreams.” — Ralph Lauren
“They know they’re going to look beautiful, and I don’t think women should look like costumes. They shouldn’t look like fashion victims.” — Ralph Lauren
“People ask how can a Jewish kid from the Bronx do preppy clothes? Does it have to do with class and money? It has to do with dreams.” — Ralph Lauren
Summary
Ralph Lauren has come a long way; from being a nobody serving in the army and working as a salesman. To becoming one of the most major and successful business owners, for over 4 decades now.
His fame and people’s love for his brand is only increasing with each passing day, and is not expected to go down anywhere in the future.
The excellence with which he has designed his clothing and his ability to not only work hard, but also smart, has brought him great fortune; and will continue to do so for many more years to come.
Everything that Ralph Lauren sells as a brand, in any country over the world, is of exceptional quality. They are also actively involved in charity activities and donations, and their fame and success is only going uphill from here.
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He is a crystal-clear and practical example for someone who wishes to follow their dreams. He has proved that, if you intend to do it, no excuse is big enough to keep you from achieving your dreams.
As of 2018, Ralph Lauren’s net worth is $5.8 billion.
