Sales at Ralph Lauren’s Irish outlet hit €210k a week
New figures lodged by the Irish arm of the US luxury brand show that the firm increased its revenues by 15% to €10.96m in the 53 weeks to early April last year.
America’s new first lady, Melania Trump raised the profile of the global brand even further when she wore a Ralph Lauren outfit for last Friday’s inauguration of president Donald Trump.
The accounts for Ralph Lauren Ireland Ltd show that higher administrative costs resulted in pre-tax profits more than halving to €46,699 last year.
The firm started trading in 2007 as a factory outlet store in Kildare selling clothing and accessories.
No dividend was paid last year though it made a payout of €500,000 in 2015.
The company also operated as the Irish commissionaire of Ralph Lauren Europe Sarl, a Swiss-registered company.
The commission rates earned from that deal fell slightly to 23%.
The directors state that they are satisfied with the level of profitability achieved by the company and expect the company to consolidate its position in the outlet business this year.
The profit last year takes account of operating lease costs of €990,950 and non-cash depreciation costs of €13,429. Staff numbers increased from 51 to 58, while staff costs increased from €741,352 to €903,912.
It had accumulated profits of €418,831.
