Ralph Lauren is the latest brand to adopt “see now, buy now”. The brand’s fall collection will reportedly be available immediately after it’s runway show.
According to an article on WWD, Ralph Lauren will show a “see now, buy now” fall collection on Wednesday, September 14th during New York Fashion Week. The collection will be available immediately after the show at the brand’s boutiques, online, and at a few stores globally.
Ralph Lauren himself released a statement about the brand’s new business model saying, “showing clothes, then delivering them six months later . . . it’s over. “With the Internet, social media . . . you have to change.”
Ralph Lauren, of course, is not the only brand to have adopted the see now, buy now. Tom Ford, Tommy Hilfiger, and Burberry adopted the business model in February. Then more brands adopted it including Balmain, Alexander Wang, and Louis Vuitton. This could, however, be one of the ways Ralph Lauren plans to increase profits.
The brand recently announced it would be closing about 50 stores and cutting about 1,000 jobs. About 750 jobs had been cut last year, which was expected to lower costs, but the brand’s income still declined.
Then there were reports that the brand’s profits were declining because of retailer discounting and sales.
Online shopping has made it difficult to charge full price for items and department stores have been discounting products to get more people to make in store purchases. One of the most discounted brands was Ralph Lauren.
Showing see now buy now collections could help Ralph Lauren increase sales and profits. The brand is able to charge full price for new items and they will sell more given the collections availability.
The new collection will show 45 new fall 2016 looks and the show will be in front of the brand’s store on Madison Ave.
So, what do you think? Will adopting the “see now, buy now” business model make Ralph Lauren’s sales and profits increase. Let me know in the comments below. Also, don’t forget to subscribe to get new posts sent directly to your inbox and follow me on Facebook, Instagram, and Snapchat.
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