Ralph Lauren Corporation posted second-quarter earnings on Tuesday, recording a 26% revenue increase to $1.5 billion, due in part to its Summer of Sports sponsorships.
Team USA sported Ralph Lauren at the Tokyo Olympics and the 43rd Ryder Cup, weeks after the brand teamed up with tennis’ U.S. Open.
Earlier this year, Ralph Lauren secured a deal with Major League Baseball to create collections for four teams. It also entered an agreement with G2 Esports.
- The brand has been the official outfitter of the U.S. Open since 2005.
- It started outfitting Team USA for the Olympics’ opening and closing ceremonies in 2008 and reportedly pays the U.S. Olympic Committee roughly 10% in royalties on the sale of the Olympic products.
North American revenue jumped 30% to $703 million, revenue in Europe shot up 38% to $496 million, and revenue in Asia rose 14% to $270 million during the quarter.
President and CEO Patrice Louvet said the company’s market share is growing, and it remains “on offense.” The average price of its items increased by 14% during the quarter.
Last week, Ralph Lauren unveiled Team’s USA’s uniforms for the Beijing Olympics.
