×
76 680
Fashion Jobs
COTY
Senior Brand Manager Global
Permanent · New York
ESTÉE LAUDER
Keyholder - Cosmetics Company Store - 20 Hrs - Tanger Outlet Center - Deer Park,NY
Permanent · Deer Park
TUMI
Associate Manager PT 20-29
Permanent · NEW YORK
TUMI
Associate Manager PT Under 20
Permanent · RIVERHEAD
TUMI
Associate Manager - Full Time
Permanent · PHILADELPHIA
TUMI
Associate Manager PT 20-29
Permanent · GARDEN CITY
TUMI
Associate Manager PT 20-29
Permanent · CHARLOTTE
NEIMAN MARCUS
Sales Manager, Jewelry - Willow Bend
Permanent · Plano
THE REALREAL
Fashion Product Receiver (Earn up to $17.80/HR)
Permanent · Secaucus
THE REALREAL
Fashion Product Receiver (Earn up to $18.30/HR)
Permanent · Phoenix
THE REALREAL
Vendor Receiver
Permanent · Perth Amboy
THE REALREAL
Fashion Product Receiver (Earn up to $17.80/HR)
Permanent · Perth Amboy
THE REALREAL
Field Sales Account Manager (Account Luxury Manager)
Permanent · Philadelphia
MICHAEL KORS
FT Sales Supervisor Penn Square - Oklahoma City, ok
Permanent · Oklahoma City
VF CORPORATION
Senior Director – Global Product Management – Finance Technologies
Permanent · Greensboro
MACY'S
Retail Fulfillment Associate, Barton Creek Square Mall - Full Time
Permanent · Austin
MACY'S
Asset Protection Detective, Roosevelt - Full Time
Permanent · Philadelphia
JCPENNEY
Asset Protection Associate
Permanent · Springfield
OLD NAVY
General Manager - Eastgate Plaza
Permanent · WILLIAMSVILLE
SACK OFF 5TH
Fulfillment Associate
Permanent · ORANGE
SACK OFF 5TH
Operations Associate
Permanent · ORANGE
LEVI'S
Merchandising Supervisor
Permanent · North Bend
By
Reuters API
Published
Sep 22, 2020
Reading time
2 minutes
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ralph Lauren to cut jobs, boost its online focus

By
Reuters API
Published
Sep 22, 2020

Ralph Lauren Corp said on Tuesday it would cut 15% of its global workforce by the end of this fiscal year as the luxury retailer strives to lower costs and ride out the impact of COVID-19 on sales and shopping habits.


DR


The New York-based fashion house, which has 530 stores globally, said the changes would see it move more business online.

The company did not say how many or what type of jobs could go, but based on its last reported total workforce of about 24,900 employees, the changes could impact more than 3,700 employees.

“The changes happening in the world around us have accelerated the shifts we saw pre-COVID, and we are fast-tracking some of our plans to match them,” Chief Executive Officer Patrice Louvet said.

The health crisis has hit demand for high-end handbags, apparel and accessories as more customers hold back on non-essential spending, forcing many companies to slow their expansion plans.

It has also put the brakes on the industry's biggest ever merger, with France's LVMH trying to back out of its $16 billion deal to acquire Tiffany & Co.

Britain's Burberry Group and luxury department store operator Harrods have also cut hundreds of jobs.

“After stores reopened, the second phase of recovery for retailers is looking at their balance sheets and how to improve profitability, and for high-end clothing companies, that often means closing stores or letting people go,” said Jessica Ramirez, retail analyst at Jane Hali & Associates.

However, online sales of luxury goods have surged and Ralph Lauren said it would invest in digital platforms to support e-commerce operations and expand product personalization.

The layoffs could result in gross annual pre-tax savings of about $180 million to $200 million, the company said. It expects to incur one-time pre-tax charges of about $120 million to $160 million in fiscal 2021.

© Thomson Reuters 2023 All rights reserved.