Irish Ralph Lauren outlet taking in €180,000 a week
A Ralph Lauren firm that operates a factory outlet store in Kildare Village recorded revenues of over €180,000 per week last year.
New figures lodged by the Irish arm of the US luxury brand show that revenues rose from €9.3m to €9.5m in the 12 months to the end of March 28 last. Pre-tax profits for Ralph Lauren Ireland Ltd during the year fell from €144,151 to €129,384.
The firm began trading in August 2007 as a factory outlet store in Kildare, selling clothing and accessories. The accounts disclose that the firm paid a dividend of €500,000 in March 2015.
It also stated that during last year, the company operated as the Irish commissionaire of Ralph Lauren Europe Sarl, a Swiss-registered company and the commission rates earned were 24pc during the whole financial year. The report states that "all the sales were in Ireland".
The directors say that they are satisfied with the level of profitability achieved during 2015 and expect the company to consolidate its position in the outlet business during 2016.
The report says that the directors "are satisfied with the level of sales achieved considering the bad economic climate in Ireland during the financial year. The operating expenses have remained at a similar level to last year".
The profit last year takes account of operating lease of €1m and non-cash depreciation costs of €29,573.
Numbers employed increased from 50 to 51 though staff costs decreased marginally from €743,163 to €741,352.
The firm's shareholder funds at the end of last March totalled €578,164 - that includes accumulated profits of €378,164. Globally in fiscal 2015, Ralph Lauren recorded revenues of $7.1bn and net income for the year was $702m. The business has a current market capitalisation of $8.52bn.