Ralph Lauren knows it’s attracting a customer with expensive taste.

It’s what the company has been aiming for: Over the past eight years, Ralph Lauren has upped its premium assortment to improve its “value proposition,” CEO Patrice Louvet said in an earnings call last week. During that time, the average price per item sold has doubled.

The strategy is paying off as wealthier consumers retreat from traditional luxury brands and middle-income shoppers become choosier about their spending as tariffs take a bite. By leveraging price increases while demonstrating its products’ high quality, Ralph Lauren has found a way to “elevate” the brand and attract “a more elevated full-price consumer base,” Louvet said. Advertisement

Ralph Lauren is not alone. Analysts point to Coach, Birkenstock, On

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