Week2~ Strategic Planning

*The Man himself perfecting
 his craft on a Global scale*
(ELITE Magazine)

Every industry before it is created must develop a strategic plan.This strategic plan consists of creating and maintaing a fit amongst the organization's objectives and resources,along with evolving market opportunities for the company to enhance future growth and longevity.I remember my high school business teacher once telling me the saying "If you fail to plan,you plan to fail".This particular phrase stuck with me as a reference to not solely the business world but also in it's regard to life.

Born Ralph Lipschtiz,who later at the age of 16 changed his last name to Lauren,would go on to name his company under his entire and more appealing name "Ralph Lauren".By 2007 Ralph Lauren Corp. had over 35 boutiques under its name in the U.S and other international locations including London,Milan,Tokyo,Moscow and Paris.Planning the opening of boutiques in dominant cities worldwide wasn't the only way R.L's popularity and demand increased as in 2007 companies like NBC's share/Ralph Lauren media relaunched it's website with the new name ralphlauren.com. In 2009 product licensing partners featured L'Oreal,Hanes brands, and Luxottica group(eyewear). As of April 2010 R.L Corporation has totalled for 631 worldwide locations, including 179 full-price stores,171 factory stores and 281 small shops within stores.The brand that is R.L has evolved immensely as the Ralph Lauren umbrella holds a plethora of divisions,starting with the flagship Polo Ralph Lauren,Black Label,Purple Label,Big and Tall,Tennis & Golf sportswear and Rugby Ralph Lauren(targeted for younger consumers)etc.Accompanying fashion brands that fall beneath R.L Corporation are those of Club Monaco,Chaps & American Living.

Ralph Lauren's S.W.O.T analysis consists of Strengths-Weaknesses-Opportunities and Threats.Given Strengths are sponsorships like Wimbeldon and targeting a wide range of customers via Asia to Europe to America as, well as their online store.Weakness' come into account by resulting in buying & selling different currencies leaving cost margins unstable & the cost of maintaining numerous head offices opposed to having no factories.Opportunities Ralph Lauren is capable for are launchings of new lines,maintaining it's brand strength.Supporting breast cancer & eco friendly campaigns create opportunity to advance and flourish campaigns.Perceived threats could come at the hands of competition in their target market like Hugo Boss,Michael Kors,Burberry & Armani.