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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) March 29, 2007
POLO RALPH LAUREN CORPORATION
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(Exact Name of Registrant as Specified in Its Charter)
DELAWARE
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(State or Other Jurisdiction of Incorporation)
001-13057 13-2622036
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(Commission File Number) (IRS Employer Identification No.)
650 MADISON AVENUE, NEW YORK, NEW YORK 10022
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(Address of Principal Executive Offices) (Zip Code)
(212) 318-7000
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(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (SEE General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 8.01. OTHER EVENTS.
Polo Ralph Lauren Corporation's press release, dated March 29, 2007,
regarding its announcement of the completion of the acquisition of the 50%
ownership interest of Ralph Lauren Media, LLC held by NBC-Lauren Media
Holdings, Inc. (a subsidiary wholly owned by NBC Universal) and ValueVision
Media, Inc. is attached hereto as Exhibit 99.1 and incorporated herein by
reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Business Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Shell Company Transactions.
Not applicable.
(d) Exhibits.
EXHIBIT NO. DESCRIPTION
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99.1 Press Release, dated March 29, 2007
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
POLO RALPH LAUREN CORPORATION
Date: March 29, 2007 By: /s/ Tracey T. Travis
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Name: Tracey T. Travis
Title: Senior Vice President and
Chief Financial Officer
EXHIBIT INDEX
99.1 Press release, dated March 29, 2007
EXHIBIT 99.1
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POLO RALPH LAUREN ACQUIRES FULL OWNERSHIP OF POLO.COM
- - $175 Million Cash Transaction to Acquire Remaining 50% of Equity in
Online Business
New York, NY (March 29, 2007) - Polo Ralph Lauren Corporation (NYSE: RL) today
announced that it has bought out the 50% ownership interest of Ralph Lauren
Media, LLC held by NBC-Lauren Media Holdings, Inc. (a subsidiary wholly owned
by NBC Universal) and ValueVision Media, Inc., giving Polo full ownership of
the Polo.com operation. The acquisition is a cash transaction of $175 million.
"Over the past seven years, we have enjoyed a strong partnership with both NBC
and ValueVision which enabled us to expand the world of Ralph Lauren online.
Together we have built a powerful presence that combines creativity and
commerce in a virtual flagship store," said Ralph Lauren, Chairman and Chief
Executive Officer of Polo Ralph Lauren. "We are excited about our complete
ownership of Polo.com as we look to grow and elevate our e-commerce presence on
a worldwide basis."
"This is a very successful and growing business that has become an important
part of our domestic retail shopping experience. This transaction allows us to
fully integrate the operations of Polo.com into our existing organization and
leverage our operational expertise to maximize the online sales performance and
financial contribution to our company," said Roger Farah, Polo's President and
Chief Operating Officer. "In addition, we believe there are tremendous growth
opportunities for Polo.com internationally. Today more than 30% of the traffic
on Polo.com comes from international domains as consumers want to browse and
experience the world of Ralph Lauren even though international shipping is not
currently offered."
Ralph Lauren Media was created seven years ago as a joint venture with 50%
ownership by Polo Ralph Lauren Corporation, 37.5% by NBC subsidiaries and 12.5%
by ValueVision to develop Polo Ralph Lauren branded media projects across
multiple platforms. The venture's first initiative, Polo.com, has become the
premier online destination for the domestic Ralph Lauren customer offering a
comprehensive collection of brands and merchandise assortment for men, women,
children and home as well as style guides, an online magazine, RLTV and Ralph
Lauren fashion shows. The site attracts more than 2.2 million unique visitors
per month, with traffic increasing more than 30% in the last year. Polo.com has
won numerous awards for creativity since its inception and was most recently
rated the Most Effective Luxury Website by the Luxury Institute.
ABOUT POLO RALPH LAUREN
Polo Ralph Lauren Corporation (NYSE: RL) is a leader in the design, marketing
and distribution of premium lifestyle products in four categories: apparel,
home, accessories and fragrances. For more than 39 years, Polo's reputation and
distinctive image have been consistently developed across an expanding number
of products, brands and international markets. The Company's brand names, which
include Polo by Ralph Lauren, Ralph Lauren Purple Label, Ralph Lauren, Black
Label, Blue Label, Lauren by Ralph Lauren, RRL, RLX, Rugby, RL Childrenswear,
Chaps and Club Monaco, constitute one of the world's most widely recognized
families of consumer brands. For more information, go to
http://investor.polo.com.
CONTACT:
PRL Corporate
Wendy Smith, 212-583-2262
or
PRL Investor Relations
Nancy Murray, 212-813-7862