How did the poor Jewish boy become a billionaire after watching a polo match? Ralph Lauren
The rare success story of Ralph Lauren, founder of the Polo brand:
DeWitt Clinton High School's yearbook for 1957 has a page by Ralph Lauren. Do you think he might have said in those pages what his purpose in life was?
- Become a millionaire!
It is not known whether it is a coincidence or farsightedness, but he is a successful fashion designer who entered the Forbes richest list. He made his staggering fortune with his iconic brand, Polo.
Ralph Lauren's history
Before he became a fashion icon, he was known as Ralph Lipschitz, the last child of a Jewish immigrant family living in the Bronx.
As he grew up, he sought ways to escape from his poor life and found what he was looking for in movies. He used to go to the cinema whenever he had the chance, almost getting lost in the magical world of cinema. He was literally addicted to movies. He identified himself with players like Gary Cooper and Cary Grant, and took on their attitude. His fondness for the characters that adorned his dreams and his ability to step into the fantasy world was what ignited his passion for fashion that brought him to where he is today.
Her departure from her humble origins came when she changed her name to Lauren after years of ridicule and contempt.
How was the Polo Brand Born?
Returning to New York after completing his military service, Lauren took a job as a clerk at menswear store Brooks Brothers. You heard right, today's billionaire Lauren was a store clerk back then who dreamed of designing ties.
Then, thanks to an experience that would change his life - the first polo match he watched - his perspective on life changed and his entrepreneurial spirit was fueled.” We encountered extraordinary things,” says his friend Warren Helstein, who took him to his first polo match, remembering that day. “Silver, leather, horses, elegant blonde women walking around in their big hats, and lots of high-society people whose existence we are not aware of…”
This event inspired Ralph Lauren to create an elite brand that would appeal to the upper class, and as a result of this inspiration, the Polo Ralph Lauren brand was born.
He had nothing but a high school diploma and a small business experience, and a few seasoned businessmen he knew from those experiences. But for Ralph, the decision to start his own company was only the first of many risky decisions he made throughout his legendary career. The next risky step was to attempt to produce wide and colorful ties at a time when narrow models were in vogue.
This radical approach was so admired that a full $500,000 worth of ties were sold in one year, and Lauren's ties were top-notch and won the hearts of everyone. The company had many customers.
Despite this fast-paced success, Lauren worked tirelessly to grow her company. “Ralph didn't for a second think about lying down in the slack of his earnings,” says Varvatos. “You can enjoy your moment, but you have to keep things going, you can't be someone who can handle just one job.”
When it came to new design ideas, Lauren chose to keep things simple. She designed clothes worthy of a movie star that she would like to wear as well. Saying that you can't go to a store and leave with the things you imagine a famous movie star would wear, Lauren used to say that the things she designed could not be bought or even found anywhere.
Lauren took her company public in 1997, keeping 81.5% of her decision-making power, of course. It was a decision taken with great difficulty; She wasn't sure if she wanted to see stock partners with a board of directors in this powerful chart she had created.
Ralph Lauren today
That mischievous boy who dreams of becoming a millionaire is now 83 years old and enjoys the many houses he owns in different cities and the farm he built on a vast land.