Ralph Lauren Corp will sell high-end apparel brand Club Monaco to private equity firm Regent LP for a undisclosed amount, as the apparel retailer doubles down on its eponymous label.
The sale of upscale casual wear brand Club Monaco, established in 1985 and bought by Ralph Lauren in 1999, is expected to close by the end of June, Ralph Lauren said on Thursday.
To trim losses and elevate its core Ralph Lauren brand, the company has concentrated on its online presence, cut costs. It recently moved its Chaps brand to a licensed model as a part of its strategy.
Reporting by Nivedita Balu in Bengaluru; Editing by Shinjini Ganguli