Ralph Lauren Corp. is looking to go bigger in the luxury furniture category.
The company signed a long-term strategic deal with Haworth Lifestyle Design that is designed to expand the production and distribution of Ralph Lauren’s Italian-made furniture.
“As we celebrate the 40th anniversary of Ralph Lauren Home, we are committing to continuing our investment in the success of our home business, positioning us to keep inspiring consumers around the world to create a more beautiful life,” said Guillaume Tardy, chief lifestyle and licensing officer at Ralph Lauren. “Home is a high-potential category for us, and working with Haworth Lifestyle Design will allow us to leverage their expertise in craftsmanship, manufacturing and customer service, as well as to expand distribution of our luxury furniture, further accelerating the growth of Ralph Lauren Home around the world in support of our Next Great Chapter: Accelerate strategy.”
Under terms of the deal, which takes effect on April 1, Haworth will be responsible for product development, sourcing and manufacturing, marketing and wholesale account management for the Ralph Lauren furniture business. Haworth will also take on post-order customer service and white glove delivery for Ralph Lauren’s e-commerce operations and existing stores.
A majority of Ralph Lauren’s furniture will be produced in Italy on a made-to-order basis.
To compliment Ralph Lauren’s existing furniture stores and wholesale relationships, Haworth will operate new stand-alone home stores devoted to the brand.
Haworth is one of the world’s largest operators of luxury furniture brands and works with a range of fashion names, including Dolce & Gabbana Casa, Versace Home and Trussardi Home.
“Like Ralph Lauren, at Haworth Lifestyle Design we are driven by a passion for craftsmanship, innovation and helping people around the world lead a life well-lived,” said Dario Rinero, chief executive officer. “Ralph Lauren has defined for more than four decades what a luxury lifestyle can look like through its iconic and timeless home designs. We are deeply invested in this collaboration and honored to partner with their team to inspire trade partners and consumers, exceeding their expectations with beautiful furniture designs and exceptional service.”
Ralph Lauren will continue to directly manage its bedding, bath, tabletop and gifts businesses and work with existing partners for the rest of its home offering.
The company has been on a mission to elevate its brand in recent years and has been successfully raising prices.
It’s an effort that has the company building up the categories it’s best known for and then expanding out from there.
Patrice Louvet, president and CEO, told analysts last month: “Our iconic core products, representing about 70 percent of our business, grew [by] high-single-digits in the second quarter, ahead of total company growth and core penetration to sales increased by roughly 500 basis points, underscoring the importance and resilience of our icons through choppy times. Strong performance in our core was led by our iconic cable-knit sweaters in cotton and cashmere, quilted jackets and vests, heritage tweed blazers and unconstructed sports coats.
“Our core also establishes the foundation and credibility to grow our high-potential categories,” Louvet said. “These include women’s, outerwear and our emerging home business. Together, these high-potential categories increased low-double-digits in the quarter.”
