Fashion
US’ Ralph Lauren posts 14% revenue surge in Q1 FY26, ups outlook
The company’s earnings per diluted share was $3.52, up 35 per cent year-over-year (YoY) on a reported basis, and $3.77, up 40 per cent on an adjusted basis.
Ralph Lauren has reported a 14 per cent YoY rise in its revenue to $1.7 billion in Q1 FY26, with net income at $220 million and adjusted EPS up 40 per cent to $3.77.
The growth was led by Asia, Europe, and North America.
Strong DTC sales, margin expansion, and new store openings boosted performance.
The company raised its full-year outlook while maintaining a cautious global outlook.
The net income for the quarter reached $220 million on a reported basis and $236 million on an adjusted basis. The gross profit stood at $1.2 billion, with a gross margin of 72.3 per cent, up 180 basis points (bps) from the prior year, aided by higher average unit retail (AUR), favourable product and geographic mix, and lower cotton costs. AUR rose 14 per cent across the company’s direct-to-consumer (DTC) network, Ralph Lauren said in a press release.
The operating income totalled $274 million (15.9 per cent margin) on a reported basis, and $293 million (17 per cent margin) on an adjusted basis. Operating margins improved across all key regions, with Asia leading at 30.7 per cent, Europe at 26.4 per cent, and North America at 20.7 per cent.
The company also reported continued progress on its brand-building initiatives. Ralph Lauren acquired 1.4 million new DTC customers in Q1 and reached nearly 66 million social media followers. The quarter featured high-impact events such as the brand’s first-ever fashion show in Shanghai, the MLB World Tour Tokyo Series activations, and a Spring ’26 runway show in Milan.
“What we stand for—aspiration, optimism, individuality and authenticity—inspires people in every corner of the world,” said Ralph Lauren, executive chairman and chief creative officer at the company. “And we are bringing these values to life and inviting people to step into their dreams in new and powerful ways—from our first-ever fashion presentation in Shanghai this April to our MLB World Tour Tokyo Series activations and our Women’s Polo presentation in Paris.”
The company ended the quarter with $2.3 billion in cash and short-term investments and $1.6 billion in total debt. Inventory levels rose 18 per cent to $1.2 billion. Ralph Lauren also repurchased approximately $250 million worth of Class A common stock during the quarter.
“We delivered strong first quarter results across geographies, channels and consumer segments,” said Patrice Louvet, president and chief executive officer (CEO) at Ralph Lauren. “While we continue to approach the current global operating environment with prudence, we are encouraged by the broad-based strength in our brand and our businesses as we execute on our long-term strategic priorities—including recruiting new and younger consumers, strengthening our core and high-potential categories, and developing our key city ecosystems in each region.”
Looking ahead, the company raised its FY26 guidance. It now expects revenue to increase in the low-to-mid-single digits in constant currency, with foreign exchange expected to provide a 150 to 200 basis point benefit. The operating margin is projected to expand 40 to 60 bps in constant currency, with additional FX benefits.
For the second quarter (Q2), the revenue is expected to grow by high single digits in constant currency, with operating margin expansion of 120 to 160 bps. The company anticipates a tax rate of approximately 19 to 20 per cent for the full year, and 15 to 17 per cent for the second quarter. Capital expenditure for FY26 remains estimated at 4 to 5 per cent of revenue.
Fibre2Fashion News Desk (SG)
Published
January 15, 2026
Kering’s Balenciaga and resolutely independent Manolo Blahnik announced a first-time collaboration on Thursday on a trio of styles created for the Fall 2026 collection.
They said it’s “an exchange shaped by shared values and an admiration for couture tradition. The partnership reflects the House of Balenciaga’s enduring commitment to artisanal mastery, as well as creative director Pierpaolo Piccioli’s distinct approach to fashion, long inspired by the legacy of Cristóbal Balenciaga”.
It makes sense for the two labels to work together given their dual Spanish roots, as well as “the elegance of craft that unites them”.
So what does the capsule comprise? There’s a low-heeled mule and a slingback with either a 105mm or 50mm heel. With a décolleté cut, we’re told “the silhouettes reveal skin, the body, a display intrinsically linked to the primacy of the human form”.
The styles are “in and of themselves a dialogue, a duet, drawn from designs from the Manolo Blahnik archive, chosen by Piccioli, and fused together. All three are executed in silk-satin, proposed in various colours and lined in Balenciaga grey”.
Each shoe style also features crystal embroidery across a low-cut vamp, something for which Blahnik is known. The company said the embellishments “simultaneously recall archival Blahnik designs and [reference] the 1960s bijoux created by Cristóbal Balenciaga”.
Manolo Blahnik said that “Don Cristóbal Balenciaga is, to me, the ultimate designer. I have adored his work for as long as I can remember. As a Mediterranean boy myself, I have always felt a deep connection to his Spanish culture and sensibility. To be partnering with Balenciaga, and with Pierpaolo, fulfils a lifelong dream. [His] direction for Balenciaga resonates profoundly with my own ideas of how the modern woman should dress in 2026, a vision of timeless elegance rooted in craftsmanship and enduring beauty.”
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Directed by AJ Duan and photographed by Anton Gottlob in the streets of Shanghai, the hero film captures the poetry of movement in the city’s rush hour – a dance of anticipation as the four characters race towards a reunion. Amid the hum of the streets, fleeting moments of humour, warmth and surprise are revealed like hidden treasures.
Burberry marks the Year of the Horse 2026 with a capsule collection and Shanghai-set campaign starring Chen Kun, Tang Wei, Wu Lei and Zhang Jingyi.
The line reimagines the iconic Knight motif in painterly techniques, anchored in lucky red tones.
Store windows across China and Asia Pacific feature hand-painted designs created with de Gournay and artist Liao Wenjun.
The capsule collection
At the heart of the capsule collection – titled Burberry Year of the Horse Collection – is our house code, the Knight, playfully reinterpreted as a watercolour and ink sketch, brought to life through intricate techniques such as vibrant metallic embroidery, cross-stitch and appliquéd badges.
The horse is a significant motif for Burberry. The original Knight was the winning entry of a public public competition to design a logo for the house, circa 1901. Imbued with symbolism, it represents protection, innovation and Burberry’s forward-looking spirit.
The collection is grounded in red, a symbol of luck and prosperity in Chinese culture, with scarves and daywear in an exclusive new red Burberry Check.
Outerwear pieces include the Berryhill car coat and Floriston quilted jacket in iridescent nylon, while the gifting offering is expanded through soft accessories, bags and small leather goods detailed with the seasonal Knight.
Window and store display
Burberry has partnered with esteemed British hand painted wallpaper brand de Gournay on window designs throughout stores in China and Asia Pacific. The collaboration celebrates the craft and texture of Xuan paper – the traditional Chinese paper used for calligraphy and painting. Both surface and subject, the paper becomes a canvas for painterly expression and a reflection of artistry and heritage, by Chinese artist Liao Wenjun.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
By
Reuters
Published
January 15, 2026
India expects talks on a long-sought trade deal with the European Union to conclude this month, Trade Secretary Rajesh Agrawal said on Thursday, in what would be New Delhi’s largest agreement as it seeks new markets amid US tariff pressures.
The deal, under discussion for years, is seen as a chance for both sides to deepen economic ties and cut reliance on China and Russia. Bilateral trade between India and the EU totalled 120 billion euros ($140 billion) in 2024, making the bloc India’s biggest trading partner. Agrawal said the two sides were “very close” to finalising the pact and were exploring whether it could be wrapped up before leaders meet in New Delhi this month.
He said talks on a US trade pact were continuing and a deal would be reached when both sides were ready. Negotiations collapsed last year after a breakdown in communication between the two governments.
The president of the European Council, Antonio Costa, and European Commission president Ursula von der Leyen will visit India on January 25–27 and co-chair an India–EU summit on January 27, India’s foreign ministry said. If concluded, the deal would open India’s vast and heavily protected consumer market of more than 1.4 billion people to European goods and could reshape global trade flows as protectionism rises and a US-India pact remains stalled.
Both sides have been pushing to close a broad agreement after von der Leyen and Indian Prime Minister Narendra Modi agreed to fast-track negotiations in an effort to close a deal in 2025. Talks, relaunched in 2022, gained momentum after US President Donald Trump imposed tariff hikes on trading partners including India.
Brussels has recently signed deals with Mexico and Indonesia and stepped up talks with India, while New Delhi has reached agreements with Britain, Oman and New Zealand.
Some sensitive agricultural items have been excluded from negotiations, an Indian trade ministry official said. India will not open its agriculture or dairy sectors in any trade pact, officials have said, citing the need to protect millions of subsistence farmers.
The EU is pushing for steep tariff cuts on cars, medical devices, wine, spirits, and meat, along with stronger intellectual property rules. India is seeking duty-free access for labour-intensive goods and quicker recognition of its autos and electronics sectors.
Beyond goods, the agreement is expected to expand services trade, investment and cooperation in digital trade, intellectual property, and green technologies, as well as spur European investment in Indian manufacturing, renewable energy ,and infrastructure. Challenges remain over regulatory alignment and the protection of sensitive sectors. The EU’s carbon border levy, which requires importers to account for emissions in steel, cement and other carbon‑intensive products, has started to hit some Indian exports and is a key concern for New Delhi, exporters said.
© Thomson Reuters 2026 All rights reserved.
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