FASHION: Ralph Lauren Cutting More Jobs, Shutting Fifth Avenue Polo Store
It shouldn’t come as a surprise that the retail shift happening in all goods industries has also hit the fashion industry. From high-end to low-end goods, more and more people are going online and purchasing their clothing, accessories, shoes, and perfumes than ever before – which could spell the end of retail locations for some names. With rents in New York City skyrockets, Ralph Lauren is closing up its Fifth Avenue store, ending an era for the brand.
Check out this article from Fortune that looks into why Ralph Lauren is shuttering, but what could replace it to keep the brand’s presence on one of the most famous shopping streets in the world.
In times like this, industries are changing, making gaps that newcomers can fill. In order to do this, you must possess the curiosity to think outside of the box: