Story: Ralph Lauren's Point of View on Success
Do what you love
Do it because you love it. That’s the one thing that will keep you sane. If not you’ll end up doing something that you don’t like and you’ll suck at it.
Trust your gut
Confidence he says is very important. His boss, the first to know about the new line of Lauren’s ties called Polo told him that the world wasn’t prepared for Ralph Lauren. He took it as a compliment.
Consistency and holding your own. Standing for what you believe in. He admires longevity. Meaning that he really looked up to those figures that believed what they believed and stood for what they believed with the passage of time.
When facing challenges…
After 10 years of funding the Ralph Lauren company he faced serious financial troubles were the company was going to crash. He had his artistic vision really clear but he nevertheless was in a very sensitive financial situation. He had saved 100.000$ from the revenue from the company. He took all his personal savings and reinvested them into the company. He went all in his company. He says that this was a decisive decision that helped hire new and more prepared people, and put more emphasis on planning and being prepared for difficult challenges.
Ralph Lauren vs Disney
People buy into Ralph Lauren’s fantasies. No other company other than Disney has convinced so many millions of people around the world to buy into his fantasies.
Took over the world
They joked that he always planned to take over the world. In the end he did. He took risks. He is worried he is going to fail. He is obsessed. He is irascible. He is kind and sweet. He is stays awake at night. He is always pushing the envelope. Today Ralph Lauren is the most famous one man brand on the planet. A brand that is synonymous with a superior lifestyle.
He says he has a very strong point of view.
He wanted to be a baseball player, a basketball player, a cowboy, an actor, a dancer… but above all he wanted to be Batman. After saying this, Oprah Winfrey laughs.
After Bloomingdale told him that he had to erase his name of the ties, and after he refused, several months later Bloomingdale called him. They told him that they couldn’t find his ties anywhere else and they wanted them. They offered him a deal. After Bloomingdale offered him a deal, other stores did too (Saks and Company, Paul Stuart, Neiman Marcus). Within a year Ralph sold half million dollars of ties…
A bigger vision, tell your story
But the designer had a bigger vision. He wanted to tell a story with his fashion line. He wanted to design clothes that actors wore on the movies. With his clothes he took you to an island, he took you to the Hamptons, he took you to the West…
Before Ralph Lauren, every store just put the clothes on mannequins and hope that everyone understood the message. Ralph told you his story, what he wanted, he told you a story, he is a storyteller.
What is Ralph Lauren today?
In 2017, the Ralph Lauren Corp. made 6,653 billion of dollars.
It is the most famous one man brand on the planet and he achieves this by telling a compelling story.
This is the power that storytelling can have in any business if telling the right story.