SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* LAUREN RALPH (Last) (First) (Middle) 650 MADISON AVE (Street) NEW YORK NY 10022 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol POLO RALPH LAUREN CORP [ RL ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner X Officer (give title below) Other (specify below) Chairman & CEO
	3. Date of Earliest Transaction (Month/Day/Year) 12/17/2007
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Common Stock	(1)	12/17/2007		J(2)			203,643	(1)	(1)	Class A Common Stock	203,643	$0	10,756,171	I	By RL Holding LP
Class B Common Stock	(1)	12/17/2007		J(2)		2,036		(1)	(1)	Class A Common Stock	2,036	$0	26,272	I	By RL Holding Group, Inc.
Class B Common Stock	(1)	12/17/2007		J(2)		199,581		(1)	(1)	Class A Common Stock	199,581	$0	1,757,084	I	By RL Family LP
Class B Common Stock	(1)	12/17/2007		J(2)			199,581	(1)	(1)	Class A Common Stock	199,581	$0	1,557,503	I	By RL Family LP
Class B Common Stock	(1)	12/17/2007		J(2)		199,581		(1)	(1)	Class A Common Stock	199,581	$0	21,618,427(3)	D
Class B Common Stock	(1)	12/17/2007		J(2)		2,026		(1)	(1)	Class A Common Stock	2,026	$0	21,620,453(3)	D
Class B Common Stock	(1)	12/17/2007		J(4)			660,740	(1)	(1)	Class A Common Stock	660,740	$0	0	I	By a GRAT(4)
Class B Common Stock	(1)							(1)	(1)	Class A Common Stock	4,658,882		4,658,882	I	By GRATs
Class B Common Stock	(1)							(1)	(1)	Class A Common Stock	3,029,637		3,029,637(5)	I	By Wife's GRATs
Class B Common Stock	(1)							(1)	(1)	Class A Common Stock	970,363		970,363(5)	I	By Wife

Explanation of Responses:

1. Each share of Class B Common Stock is immediately convertible on a one-for-one basis into a share of Class A Common Stock and does not expire.

2. Reflects a distribution of shares of Class B Common Stock from RL Holding, L.P., a Delaware limited partnership, to each of RL Family L.P., a Delaware limited partnership, RL Holding Group, Inc., a Delaware corporation, and the reporting person. The portion of such shares distributed to RL Family, L.P. were subsequently distributed to the reporting person.

3. Reflects a distribution to the reporting person of 1,062,577 shares of Class B Common Stock on December 17, 2007 from grantor retained annuity trusts of which the reporting person is a trustee.

4. Reflects a distribution of shares of Class B Common Stock on December 17, 2007 upon the termination of one of the grantor retained annuity trusts to a successor trust for the benefit of the reporting person's issue and for various trusts of which the reporting person is a grantor. The reporting person was a trustee of the terminating grantor retained annuity trust. The reporting person is not a trustee of the successor trust.

5. Reflects a distribution to the reporting person's wife of 415,511 shares of Class B Common Stock on April 16, 2007 from the grantor retained annuity trusts of the reporting person's wife, of which she is a trustee.

	Yen D. Chu, Attorney-in-Fact	12/19/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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