Club Monaco brand will be put on sale by the international leader in the design, marketing and lifestyle products distribution industry, Ralph Lauren Corporation, to the prominent private company Regent, LP.
The negotiation between the two companies is anticipated to end by June this year, showing the sustained attention on Ralph Lauren’s Next Great Chapter Plan.
“For the past twenty-two years, Club Monaco has been an important and valued part of the Ralph Lauren family, and we are grateful for the many contributions the brand and its team have made to our company,” Ralph Lauren’s president and chief executive officer Patrice Louvet said.
“As we increase our focus on our core namesake brands, we want to ensure the Club Monaco brand is also well-positioned for long-term success. We are confident that Regent is the right home for Club Monaco to realise its full potential, as they will be able to leverage their strategic and operational expertise to continue Club Monaco’s growth,” Louvet added.
In 2020, the company unveiled its Strategic Realignment Plan for 2021 which is eyed to speed up its Next Great Chapter Plan.
Among Ralph Lauren’s reassessment plan was the evaluation of its brand portfolio, giving attention on securing that its essential brands are fitted for viable development.
Selling the Club Monaco to Regent, on top of the acquisition of license of the Chaps brand in 2020, finishes the evaluation of the company’s portfolio.
“Club Monaco is a beloved brand with a modern style, loyal customer base and long runway for growth,” according to Michael Reinstein, Regents’ chairman. “We see tremendous opportunity for Club Monaco and are excited to leverage our retail and e-commerce expertise to build upon the strong brand that the Ralph Lauren team built over two decades of stewardship.”