| RalphLauren Pledges $10 Million To COVID-19 Relief | The sum will spread amongst four organizations including the CommonThread Initiative:
Anyone familiar with the Ralph Lauren brand knows that philanthropy is a layer of code. With COVID-19 rife in our world, Ralph, who reports as the company’s chief creative officer and executive chairman, announced a $10 million reserve pledged for Coronavirus relief. Earlier this year Lauren’s business projected up to a $70 million sales hit in their Chinese market alone as the virus made a foray on luxury fashion. Today, we watch fashion houses respond in real-time.
“At the heart of our company, there has always been a spirit of togetherness that inspires our creativity, our confidence, and most importantly our support for one another. In the past weeks and months, that spirit has never wavered,” wrote Lauren in a press release. “We believe that no matter who you are or where you are from, we are all connected. That is why we are taking significant action to help our teams and communities through this crisis.
The Emergency Assistance Foundation will benefit Ralph Lauren employees in an effort to mitigate their circumstance, alleviating the pressures of today through child care, elder care, and medical care. The World Health Organization COVID-19 Solidarity Response Fund and Ralph Lauren’s own Pink Pony Fund for cancer research will receive a percentage of the whole.
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