See Item 1A — "Risk Factors — Risks Related to our Business and Operations — We face intense competition worldwide in the markets in which we operate."

Distribution

To facilitate global distribution, our products are shipped from manufacturers to a network of distribution centers around the world for inspection, sorting, packing, and delivery to our retail locations and digital commerce and wholesale customers. This network includes the following primary distribution facilities: [Table with ~9 rows, ~1 numbers, and 408 characters.] (a)Includes Australia and New Zealand.All facilities are designed to allow for high-density cube storage and value-added services and utilize unit and carton tracking technology to facilitate process control and inventory management. The distribution network is managed through globally integrated information technology systems.

Information Systems

Our information systems facilitate business processes, consumer experiences, and decision-making support across the Company and our extended ecosystem of manufacturers, vendors, business partners, and customers. Our system applications are connected to support the flow of information across functions, including, but not limited to (i) product design, sourcing, and production; (ii) merchandising planning and buying; (iii) comprehensive order processing, fulfillment, and distribution; (iv) retail store, digital commerce, and hospitality operations; (v) marketing and advertising; (vi) financial accounting and management reporting; and (vii) human resources.Our retail operation systems, including point-of-sale registers and merchandising, planning, and inventory management systems, support operational processes within our store network and link with our digital commerce processes to support omni-channel capabilities. We are continually improving and upgrading our computer systems, services, and software. For example, we continue to enhance our solutions for advanced analytics, furthering our use of AI, both predictive and generative, and machine learning for areas such as planning, marketing, and personalization. Our digital commerce enhancements included expanded payment methods, improved search capabilities, more personalized user experiences, and elevated content offerings. During Fiscal 2026, we continued to advance key workstreams under the Next Generation Transformation project including completion of global design templates that support our core enterprise resource planning platform and related processes, automating certain distribution center operations, and progressing the global roll-out of merchandise allocation and long-range demand planning tools. See Item 1 — "Business — Recent Developments" for further discussion regarding our Next Generation Transformation project.See Item 1A — "Risk Factors — Risks Related to Information Systems and Data Security."See Item 1C — "Cybersecurity" for discussion regarding our cybersecurity risk management and strategy, as well as our cybersecurity governance.

Wholesale Credit Control

We manage our own credit function. We sell our merchandise principally to major department stores, specialty stores, and third-party digital partners, and extend credit based on an evaluation of the wholesale customer's financial capacity and condition, usually without requiring collateral. We monitor credit levels and the financial condition of our wholesale customers on a continuing basis to minimize credit risk. We do not factor or underwrite our accounts receivable, nor do we maintain credit insurance to manage the risk of bad debts. In North America, collection and deduction transactional activities are primarily provided through a third-party service provider. See Item 1A — "Risk Factors — Risks Related to our Business and Operations — A substantial portion of our revenue is derived from a limited number of large wholesale customers. Our business could be adversely affected as a result of consolidations, liquidations, restructurings, other ownership changes in the retail industry, and/or any financial instability of our large wholesale customers."

Trademarks

We own the RALPH LAUREN, POLO, POLO RALPH LAUREN, and the famous Polo Player Design trademarks in the U.S. and over 120 countries worldwide. Other trademarks that we own include, but are not limited to:

•PURPLE LABEL;

•DOUBLE RL;

•RRL & DESIGN;

•RLX;

•RL;

•LAUREN RALPH LAUREN;

•PINK PONY;

•LAUREN;

•RALPH;

•POLO BEAR; and

•CHAPS.

Mr. Ralph Lauren has the royalty-free right to use as trademarks RALPH LAUREN, DOUBLE RL, and RRL in perpetuity in connection with, among other things, beef and living animals. The trademarks DOUBLE RL and RRL are currently used by the Double RL Company, an entity wholly owned by Mr. R. Lauren. In addition, Mr. R. Lauren has the right to engage in personal projects involving film or theatrical productions (not including or relating to our business) through RRL Productions, Inc., a company wholly owned by Mr. R. Lauren. Any activity by these companies has no direct impact on us.Our trademarks are the subject of registrations and pending applications throughout the world for use on a variety of items of apparel, apparel-related products and accessories, home furnishings, restaurant and café services, online services and online publications, and beauty products, as well as in connection with retail services, and we continue to expand our worldwide usage and registration of related trademarks. In general, trademarks remain valid and enforceable as long as the marks are used in connection with the related products and services and the required registration renewals are filed. We regard the license to use the trademarks and our other proprietary rights in and to the trademarks as extremely valuable assets in marketing our products and, on a worldwide basis, vigorously seek to protect them against infringement. As a result of the appeal of our trademarks, our products have been the object of counterfeiting. While we have a broad enforcement program which has been generally effective in protecting our intellectual property rights and limiting the sale of counterfeit products in the U.S. and in most major markets abroad, we face greater challenges with respect to enforcing our rights against trademark infringement in certain parts of Asia.In markets outside of the U.S., our rights to some or all of our trademarks may not be clearly established. Over the course of our international expansion, we have experienced conflicts with various third parties who have acquired ownership rights in certain trademarks, including POLO and/or a representation of a Polo Player Design, which impede our use and registration of our principal trademarks. While such conflicts are common and may arise again from time to time as we continue our international expansion, we have, in general, successfully resolved such conflicts in the past through both legal action and negotiated settlements with third-party owners of the conflicting marks (see Item 1A — "Risk Factors — Risks Related to our Business and Operations — Our trademarks and other intellectual property rights may not be adequately protected outside the U.S." and Item 3 — "Legal Proceedings" for further discussion). Although we have not suffered any material restraints or restrictions on doing business in desirable markets in the past, we cannot assure that significant impediments will not arise in the future as we expand product offerings and introduce trademarks to new markets.

•PURPLE LABEL;

•DOUBLE RL;

•RRL & DESIGN;

•RLX;

•RL;

•LAUREN RALPH LAUREN;

•PINK PONY;

•LAUREN;

•RALPH;

•POLO BEAR; and

•CHAPS.

Mr. Ralph Lauren has the royalty-free right to use as trademarks RALPH LAUREN, DOUBLE RL, and RRL in perpetuity in connection with, among other things, beef and living animals. The trademarks DOUBLE RL and RRL are currently used by the Double RL Company, an entity wholly owned by Mr. R. Lauren. In addition, Mr. R. Lauren has the right to engage in personal projects involving film or theatrical productions (not including or relating to our business) through RRL Productions, Inc., a company wholly owned by Mr. R. Lauren. Any activity by these companies has no direct impact on us.Our trademarks are the subject of registrations and pending applications throughout the world for use on a variety of items of apparel, apparel-related products and accessories, home furnishings, restaurant and café services, online services and online publications, and beauty products, as well as in connection with retail services, and we continue to expand our worldwide usage and registration of related trademarks. In general, trademarks remain valid and enforceable as long as the marks are used in connection with the related products and services and the required registration renewals are filed. We regard the license to use the trademarks and our other proprietary rights in and to the trademarks as extremely valuable assets in marketing our products and, on a worldwide basis, vigorously seek to protect them against infringement. As a result of the appeal of our trademarks, our products have been the object of counterfeiting. While we have a broad enforcement program which has been generally effective in protecting our intellectual property rights and limiting the sale of counterfeit products in the U.S. and in most major markets abroad, we face greater challenges with respect to enforcing our rights against trademark infringement in certain parts of Asia.In markets outside of the U.S., our rights to some or all of our trademarks may not be clearly established. Over the course of our international expansion, we have experienced conflicts with various third parties who have acquired ownership rights in certain trademarks, including POLO and/or a representation of a Polo Player Design, which impede our use and registration of our principal trademarks. While such conflicts are common and may arise again from time to time as we continue our international expansion, we have, in general, successfully resolved such conflicts in the past through both legal action and negotiated settlements with third-party owners of the conflicting marks (see Item 1A — "Risk Factors — Risks Related to our Business and Operations — Our trademarks and other intellectual property rights may not be adequately protected outside the U.S." and Item 3 — "Legal Proceedings" for further discussion). Although we have not suffered any material restraints or restrictions on doing business in desirable markets in the past, we cannot assure that significant impediments will not arise in the future as we expand product offerings and introduce trademarks to new markets.

Import Restrictions and Other Government Regulations

Virtually all of our merchandise imported into the Americas, Europe, Asia, Australia, and New Zealand is subject to duties. In addition, most of the countries to which we ship could impose safeguard quotas and duties to protect their local industries from import surges that threaten to create market disruption. In addition, each of the countries in which our products are sold has laws and regulations covering imports. Because the U.S. and the other countries in which our products are manufactured and sold may, from time to time, impose new duties, tariffs, surcharges, or other import controls or restrictions, or adjust presently prevailing duty or tariff rates or levels, we maintain a program of intensive monitoring of import restrictions and opportunities. We seek to minimize our potential exposure to import-related risks through, among other measures, adjustments in product design and fabrication, shifts of production among countries and manufacturers, and through geographical diversification of our sources of supply.As the vast majority of our products are manufactured by foreign suppliers, the enactment of new legislation or the administration of current international trade regulations or executive action affecting textile agreements, or changes in sourcing patterns could adversely affect our operations. Where available, we utilize free trade agreements and special trade preference programs to benefit from duty savings programs. See Item 1A — "Risk Factors — Risks Related to Regulatory, Legal, and Tax Matters — Our ability to conduct business globally may be affected by a variety of legal, regulatory, political, and economic risks" and "Risk Factors — Risks Related to our Business and Operations — Our business is subject to risks associated with importing products and the ability of our manufacturers to produce our goods on time and to our specifications." Apparel and other products sold by us are under the jurisdiction of multiple governmental agencies, including, in the U.S., the Federal Trade Commission, U.S. Customs & Border Protection, the U.S. Fish and Wildlife Service, the Environmental Protection Agency, and the Consumer Products Safety Commission which regulate the quality, safety, and/or labeling of our products. We believe that we are in substantial compliance with these regulations, as well as applicable federal, state, local, and foreign rules and regulations. Our licensed products, licensing partners, buying/sourcing agents, and the vendors and factories with which we contract for the manufacture and distribution of our products are also subject to regulation. Our agreements require our licensing partners, buying/sourcing agents, vendors, and factories to operate in compliance with all applicable laws and regulations, and we are not aware of any violations which could reasonably be expected to have a material adverse effect on our business or operating results.We are also subject to disclosure and reporting requirements, established under existing or new federal or state laws, such as the requirements to identify the origin and existence of certain "conflict minerals" under the Dodd-Frank Wall Street Reform and Consumer Protection Act, and disclosures of specific actions to eradicate abusive labor practices in our supply chain under the California Transparency in Supply Chains Act. While we require our suppliers to operate in compliance with all applicable laws and our operating guidelines which promote ethical and socially responsible business practices, any violation of labor, environmental, health, and safety or other laws, or any divergence by an independent supplier's labor practices from generally accepted industry standards, could damage our reputation, disrupt our sourcing capabilities, and increase the cost of doing business, adversely affecting our results of operations. See Item 1A — "Risk Factors — Risks Related to Regulatory, Legal, and Tax Matters — Our business could suffer if we fail to comply with labor laws or if one of our manufacturers fails to use acceptable labor or environmental practices."Although we have not suffered any material restriction from doing business in desirable markets in the past, we cannot assure that significant impediments will not arise in the future as we expand product offerings and introduce additional trademarks to new markets.

Human Capital

Our purpose to inspire the dream of a better life through authenticity and timeless style extends to how we provide resources to support our employees' health, well-being, work-life harmony, and quality of life. We believe that attracting, developing, and retaining a diverse work force that is both skilled and motivated is critical to the successful execution of our long-term growth strategy. To this end, we are committed to creating a culture and work environment in which all employees feel welcome and can thrive, both as individuals and as part of our team.

Our Employees

As of March 28, 2026, we had approximately 23,600 employees, comprised of approximately 15,600 full-time and 8,000 part-time employees. Approximately 9,400 of our employees are located in the U.S. and 14,200 are located in other countries.As of March 28, 2026, approximately 65% and 35% of our global workforce self-identified as female and male, respectively. In the U.S., approximately 60% of our workforce self-identified as an underrepresented race and ethnic group and 33% self-identified as White, with the remaining 7% electing not to disclose such information.

Belonging & Equity

We believe that a culture of inclusivity that welcomes a diversity of backgrounds, skills, and experiences drives innovation and creativity. Our approach is designed to create and maintain a culture of belonging, enable open dialogue, amplify all perspectives, and continue to support our best-in-class talent. Our strategy is guided by the following three focus areas:1.Talent — We embed the principles of belonging into the fabric of our organization, providing opportunities for all talent across the Company to thrive. This includes internal talent development and professional growth initiatives like the Ralph Lauren Mentoring Program. This program brings together mentors and mentees from across the Company to build community and learn from diverse perspectives.2.Engagement — We make a conscious effort to celebrate and support the many communities that make up our global workforce and the consumers we serve. We enable open dialogue by amplifying all perspectives through heritage events and structured programming organized by Employee Impact Groups.3.Education — We value learning and development as it is essential to building a strong, connected global team. Through immersive learning experiences from workshops to e-learnings, employees at all levels gain the knowledge required to create a culture of acceptance and embed equitable practices into daily work.Additional information relating to our initiatives can be found in our most recently published Global Citizenship & Sustainability Report covering Fiscal 2025, which is available on our corporate website at https://corporate.ralphlauren.com/citizenship-and-sustainability. Our Global Citizenship & Sustainability Report covering Fiscal 2026 is expected to be released in September 2026. The content of our sustainability reports is not incorporated by reference into this Annual Report on Form 10-K or in any other report or document we file with the SEC.

Talent Development

During Fiscal 2026, we adopted a more holistic approach to talent development under the Employee Learning Experience, reflecting our commitment to providing meaningful, purpose-driven learning experiences that resonate on a personal level, evoke emotion, and inspire thoughtful self-reflection and connection to our Company's purpose and strategy. A cornerstone of this transformation has been the continued delivery of RL Coaching Mindset for all people leaders, which reinforces a coaching culture and supports the development of high-performing teams while promoting greater accountability and fundamentally enhancing engagement and performance.In parallel, we have placed significant emphasis on career development and aspirations. Our goal is to empower employees to take ownership of their career journeys by providing visibility into various career paths and organizational functions within the Company. These experiences reinforce shared accountability between leaders and employees in shaping development opportunities, embracing cross-functional exposure, and building enterprise capability.Throughout Fiscal 2026, we placed a strong emphasis on strengthening employees' connection to our Purpose. This was achieved through a series of targeted initiatives, including immersive store experiences and dedicated Purpose workshops, designed to bring our Purpose to life and embed it meaningfully into everyday roles and behaviors.These initiatives reflect our unwavering commitment to building a culture of continuous learning, intentional growth, and empowered leadership aligned with our Purpose — positioning us for long-term success.

Employee Safety and Well-Being

We are committed to the safety, health, and overall well-being of each of our employees and their families, providing a wide array of physical, emotional, social, and financial support to meet this objective. THRIVE, our global wellness program and related application tool, provides access to volunteer events and physical and mental wellness support. The THRIVE application also provides a daily pulse question through Microsoft Teams, which links to additional wellness articles based on an employee's response. In addition, these pulse responses are tracked so that employees can view their well-being progress. In partnership with THRIVE, we also introduced a variety of activations throughout the year — from educational webinars on topics such as family, mind, finance, harmony, and health, to Wellness Journeys, a three-part training series delivered in each region and tailored to local Health & Wellness priorities.In the U.S., we continue to support our working parents with resources for all stages of their journey. We launched Rethink Care, a program that gives employees and their family 24/7 access to behavioral health experts, personalized digital tools, and ongoing guidance for their children's learning and development, at no cost. This is available to all employees, both full-time and part-time, without having to enroll in a medical plan.In Canada, we extended access to the Employee Assistance Plan to all part-time employees to better align with our regional approach and promote equitable access to wellbeing resources.

Compensation and Benefits

We are committed to providing competitive compensation and benefits to attract and retain a diverse and talented workforce. In addition, we take a proactive approach to pay equity and continually monitor our compensation programs to promote fairness.We offer a wide array of both employer-paid and employee-paid benefits to support our employees' overall financial, physical, and mental well-being, including, but not limited to, healthcare and welfare benefits, retirement savings, paid time off, temporary leave, sabbaticals, and flexible work arrangements. We understand that everyone has unique needs when it comes to caring for themselves or their families.We have implemented a discretionary bonus program for all employees who are not otherwise eligible for an existing incentive plan. We have also established equity awards for our top-performing sellers to acknowledge the collective and individual achievements that contribute to the Company's continued success.

Our Employees

As of March 28, 2026, we had approximately 23,600 employees, comprised of approximately 15,600 full-time and 8,000 part-time employees. Approximately 9,400 of our employees are located in the U.S. and 14,200 are located in other countries.As of March 28, 2026, approximately 65% and 35% of our global workforce self-identified as female and male, respectively. In the U.S., approximately 60% of our workforce self-identified as an underrepresented race and ethnic group and 33% self-identified as White, with the remaining 7% electing not to disclose such information.

Belonging & Equity

We believe that a culture of inclusivity that welcomes a diversity of backgrounds, skills, and experiences drives innovation and creativity. Our approach is designed to create and maintain a culture of belonging, enable open dialogue, amplify all perspectives, and continue to support our best-in-class talent. Our strategy is guided by the following three focus areas:1.Talent — We embed the principles of belonging into the fabric of our organization, providing opportunities for all talent across the Company to thrive. This includes internal talent development and professional growth initiatives like the Ralph Lauren Mentoring Program. This program brings together mentors and mentees from across the Company to build community and learn from diverse perspectives.2.Engagement — We make a conscious effort to celebrate and support the many communities that make up our global workforce and the consumers we serve. We enable open dialogue by amplifying all perspectives through heritage events and structured programming organized by Employee Impact Groups.3.Education — We value learning and development as it is essential to building a strong, connected global team. Through immersive learning experiences from workshops to e-learnings, employees at all levels gain the knowledge required to create a culture of acceptance and embed equitable practices into daily work.Additional information relating to our initiatives can be found in our most recently published Global Citizenship & Sustainability Report covering Fiscal 2025, which is available on our corporate website at https://corporate.ralphlauren.com/citizenship-and-sustainability. Our Global Citizenship & Sustainability Report covering Fiscal 2026 is expected to be released in September 2026. The content of our sustainability reports is not incorporated by reference into this Annual Report on Form 10-K or in any other report or document we file with the SEC.

Talent Development

During Fiscal 2026, we adopted a more holistic approach to talent development under the Employee Learning Experience, reflecting our commitment to providing meaningful, purpose-driven learning experiences that resonate on a personal level, evoke emotion, and inspire thoughtful self-reflection and connection to our Company's purpose and strategy. A cornerstone of this transformation has been the continued delivery of RL Coaching Mindset for all people leaders, which reinforces a coaching culture and supports the development of high-performing teams while promoting greater accountability and fundamentally enhancing engagement and performance.In parallel, we have placed significant emphasis on career development and aspirations. Our goal is to empower employees to take ownership of their career journeys by providing visibility into various career paths and organizational functions within the Company. These experiences reinforce shared accountability between leaders and employees in shaping development opportunities, embracing cross-functional exposure, and building enterprise capability.Throughout Fiscal 2026, we placed a strong emphasis on strengthening employees' connection to our Purpose. This was achieved through a series of targeted initiatives, including immersive store experiences and dedicated Purpose workshops, designed to bring our Purpose to life and embed it meaningfully into everyday roles and behaviors.These initiatives reflect our unwavering commitment to building a culture of continuous learning, intentional growth, and empowered leadership aligned with our Purpose — positioning us for long-term success.

Employee Safety and Well-Being

We are committed to the safety, health, and overall well-being of each of our employees and their families, providing a wide array of physical, emotional, social, and financial support to meet this objective. THRIVE, our global wellness program and related application tool, provides access to volunteer events and physical and mental wellness support. The THRIVE application also provides a daily pulse question through Microsoft Teams, which links to additional wellness articles based on an employee's response. In addition, these pulse responses are tracked so that employees can view their well-being progress. In partnership with THRIVE, we also introduced a variety of activations throughout the year — from educational webinars on topics such as family, mind, finance, harmony, and health, to Wellness Journeys, a three-part training series delivered in each region and tailored to local Health & Wellness priorities.In the U.S., we continue to support our working parents with resources for all stages of their journey. We launched Rethink Care, a program that gives employees and their family 24/7 access to behavioral health experts, personalized digital tools, and ongoing guidance for their children's learning and development, at no cost. This is available to all employees, both full-time and part-time, without having to enroll in a medical plan.In Canada, we extended access to the Employee Assistance Plan to all part-time employees to better align with our regional approach and promote equitable access to wellbeing resources.

Compensation and Benefits

We are committed to providing competitive compensation and benefits to attract and retain a diverse and talented workforce. In addition, we take a proactive approach to pay equity and continually monitor our compensation programs to promote fairness.We offer a wide array of both employer-paid and employee-paid benefits to support our employees' overall financial, physical, and mental well-being, including, but not limited to, healthcare and welfare benefits, retirement savings, paid time off, temporary leave, sabbaticals, and flexible work arrangements. We understand that everyone has unique needs when it comes to caring for themselves or their families.We have implemented a discretionary bonus program for all employees who are not otherwise eligible for an existing incentive plan. We have also established equity awards for our top-performing sellers to acknowledge the collective and individual achievements that contribute to the Company's continued success.

Information About Our Executive Officers

As of the filing date of this Form 10-K, the following are our current executive officers and their principal recent business experience:Ralph Lauren   Age 86  Mr. Ralph Lauren founded our business in 1967 and, for nearly six decades, has cultivated the iconography of America into a global lifestyle brand. He has been our Executive Chairman and Chief Creative Officer since November 2015, and a director of the Company since prior to our initial public offering in 1997. He had previously been our Chairman and Chief Executive Officer since prior to our initial public offering in 1997 until November 2015. In addition, he was previously a member of our Advisory Board or the Board of Directors of our predecessors since their organization. [Table with ~4 rows, ~8 numbers, and 3926 characters.] Halide Alagöz Age 54Ms. Alagöz joined the Company as the Corporate Senior Vice President of Global Manufacturing and Sourcing in 2016. She has been our Chief Product & Merchandising Officer since March 2025. Ms. Alagöz is responsible for our end-to-end product life cycle, bringing the magic of our design and product vision to life for our consumers around the world. She leads all brand and product teams, driving innovation and execution – from development and merchandising, to sourcing and through our store presentation – of all products across the Ralph Lauren portfolio. Prior to joining the Company, Ms. Alagöz was with H&M Corporation for 18 years, most recently in Hong Kong as the Head of Purchasing. During her tenure with H&M, Ms. Alagöz was responsible for various regional and global supply chain operations in Hong Kong, China, Bangladesh, and Turkey. She also serves on the board of directors of the American Apparel & Footwear Association since April 2018 and was confirmed as its Chair for its 2025-2026 term in March 2024. Ms. Alagöz earned both her bachelor's degree in Industrial Engineering and her master's degree in Engineering Management from Istanbul Technical University.