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Chapter 5: A Practical Approach to Drivi... > Ralph Lauren Fragrances: Reimagining...

Ralph Lauren Fragrances: Reimagining Value for Your Consumer

In the first half of 2009, prestige fragrances posted a decline of 10 percent in U.S. dollars compared with the first half of 2008,7 and Ralph Lauren Fragrances was no different from the rest of the industry. When I began working with Ralph Lauren Fragrances in January 2009, I was told that they also faced some difficulty in confronting the new economy. Like Unimedia, Ralph Lauren Fragrances was asking itself deep questions about its future, due to this difficult phase in the U.S. economy following the financial crash of 2008. However, in the case of the fragrance company, it was more of a traditional marketing and branding problem than a business model reinvention. Because of their concerns related to lack of sustainability in the fragrance industry Ralph Lauren Fragrances needed to figure out how to make one of the world's most traditional products—fragrance—appealin....


  

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