Lauren’s handmade neckties were flying off the shelves. It was a conservative time in the fashion world and Lauren’s ties, showy as they were, were making a splash. But Lauren knew that if he was going to stick around in the business for much longer, he had to follow that up with something else – and fast. In 1968, with the help of a $50,000 loan, Lauren founded Polo Fashions. He chose the name not because he liked the sport; indeed, he had never played polo before in his life. But to Lauren, the name symbolized power and style – an image he wanted his clothes to project.
Lauren’s designs hit the fashion world – and the streets – hard. Expanding his line of men’s wear, Lauren had hit after hit on his hands. In 1970, he even won the prestigious Coty award.
The next year, Lauren took another step forward. After finding it impossible to buy clothes for his wife that he actually liked, Lauren decided to launch a women’s line of his own. With his new line of women’s clothing, Lauren also introduced his now famous logo – the polo player.
That same year, Lauren decided to open up his own store, and where better than on Rodeo Drive in Beverly Hills. In 1971, his store opened to the public and became an instant hit. He continued to expand his line, especially for women, to whom he gave clothes made of cashmere, cotton, and tweed.
Lauren was a constantly growing force within the fashion industry. In 1974, he was asked by Paramount Studios to design the men’s outfits for the major motion picture “The Great Gatsby.” The film – and its costumes – went on to become huge hits. That success was followed up in 1977 with the release of Woody Allen’s “Annie Hall.” Its two stars – Diane Keaton and Woody Allen – both wore Lauren’s designs. Soon, women everywhere wanted to know where they could buy Keaton’s clothes.
In 1978, Lauren again expanded his product line to include perfumes. He released Polo for Men and Lauren, for women. He also designed a new line of clothes for babies and children after his wife had trouble finding good quality clothes for their two sons.
The next few years saw many new developments for Polo. In 1979, the company launched its hallmark multi-page ads. In 1981, Lauren became the first American designer to open a store in London. And, in 1983, Lauren introduced himself to a whole new market by launching a home collection. Now, you could not only wear Lauren; you could sit on Lauren furniture, eat on Lauren tablecloths, and more.
The early 1990s proved more difficult for Lauren, who was by then recovering from surgery that had removed a brain tumour. The economic recession saw 28 percent of Polo Fashions being sold to Goldman Sachs.
But towards the end of the decade, things were looking up. Lauren became CEO and chief designer of his newly public company. By 1997, Lauren’s operations had expanded to include 155 stores around the world and annual sales of $5 billion.
Today, Lauren’s 14,000 employees help to bring in revenues of more than $4 billion and Lauren is still going strong as one of America’s greatest designers.
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