Last year, Ralph Lauren announced a Fiscal 2021 Strategic Realignment Plan that would accelerate the company’s Next Great Chapter Plan, including an evaluation of the company’s brand portfolio, with a focus on ensuring its core brands are well positioned for sustainable growth. The sale of Club Monaco to Regent, combined with the licensing of the Chaps brand last year, concludes this portfolio evaluation.
“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,” said Patrice Louvet, President and CEO of Ralph Lauren in a statement. “We are confident that Regent is the right home for Club Monaco to realize its full potential, as they will be able to leverage their strategic and operational expertise to continue Club Monaco’s growth.”
The transaction is expected to close by the end of June. Financial details were not disclosed.