The American fashion company has closed two thirds of its commercial network in China. In Asia, the company had a turnover of around 273 million dollars (250.4 million euros) in the last three months of last year.
Ralph Lauren quantifies the impact of the coronavirus. The American fashion company will stop registering between fifty million dollars and seventy million dollars in the fourth quarter before the outbreak of the virus.
“The Company also expects broader impact across its businesses in China and parts of Asia due to significantly reduced travel and retail traffic,” explains the company in a statement. Ralph Lauren has closed two thirds of its stores in the Asian country, which amount to 110 stores.
In parallel, the company has also explained that the coronavirus crisis has affected its supply chain since “a small portion of orders have been interrupted during the fourth quarter”.
Ralph Lauren has closed two thirds of its stores in the Asian country, which amount to 110 stores
“Our dedicated teams are operating with agility in a highly dynamic situation, and we will continue to assess the implications for our business across retail, corporate and our supply base,” the company said in a statement.
Sales in China represent 4% of Ralph Lauren’s revenue. In the region, the company had a revenue of around 273 million dollars in the last three months of last year.
Nike, Burberry or PVH are other international fashion companies that have explained that the coronavirus will have “significant impact” on their business. The main fairs in the sector have also been affected by this crisis, such as Première Vision, Messe Frankfurt or Kingpins.