Ralph Lauren has opened fiscal 2027 with revenue up 14 per cent to US$2 billion.
The Asia segment, which covers the group's Australian and New Zealand operations alongside its Asian markets, was the strongest performer in the business.
The company reports at segment level and does not break out Australian or New Zealand figures. Asia revenue rose 24 per cent to US$589 million on a reported basis and 25 per cent in constant currency, with China named as the driver of that growth at more than 40 per cent.
Comparable store sales across the segment climbed 23 per cent, split between 22 per cent growth in bricks and mortar stores and 32 per cent in digital commerce.
Asia also delivered the group's best margin.
Operating income for the segment reached US$198 million at a margin of 33.5 per cent, up 280 basis points on last year, with currency contributing 10 basis points.
The engine is price, not volume.
Average unit retail across the direct-to-consumer network rose 15 per cent, which the company puts down to continued brand elevation and strong full-price selling with fewer promotions than it had planned. That same lift drove gross margin to 73.7 per cent, 140 basis points above last year, and was enough to absorb tariff and product cost pressure.
Category mix did the rest.
The core business grew at a mid-teens rate while women's apparel, outerwear and handbags lifted more than 20 per cent in constant currency, outpacing the group. Wholesale accelerated to mid-teens growth, which the company attributes to healthy underlying demand.
CEO Patrice Louvet praised the result.
”Our iconic brand is resonating around the world, and we continue to invest behind the long-term strategic priorities that will drive further sustainable growth and value creation into the future – from recruiting new and younger consumers to strengthening our core and high-potential categories and developing our key city ecosystems in every region."
North America revenue rose 13 per cent to US$740 million with comparable retail sales up 9 per cent. Wholesale revenue in the market grew 22 per cent, though roughly 15 percentage points of that came from resumed shipments to a luxury wholesale account and a previously announced shift in shipment timing out of the fourth quarter.
Europe revenue lifted 7 per cent to US$594 million and 5 per cent in constant currency, with comparable store sales up 1 per cent.
The company added 1.5 million new consumers to its direct-to-consumer businesses during the quarter and raised its full year constant currency revenue and adjusted operating margin expansion outlook. Fiscal 2027 is a 53-week year, with the extra week expected to add about a point to revenue growth.