From poverty to luxury, the incredible story of Ralph Lauren

As a child, Ralph Lipschitz dreamed of being a millionaire. Today, he takes full advantage of his fortune estimated at more than 6 billion dollars.

In 1957, in the yearbook of DeWitt Clinton High School, Ralph Lauren indicated one of the objectives of his life: "to become a millionaire". Last September, the fashion legend announced that he was stepping down as CEO. He will remain with the company as executive chairman and chief creative officer. His fortune is estimated at $6 billion.

But long before he became a fashion icon, he was Ralph Lipschitz, the youngest son of a family of Jewish immigrants living in the Bronx. Growing up, he learned to escape his family's poverty by going to the movies and immersing himself in storylines.

"It will literally fall into the fantasy of films from that era," Michael Gross, author of Genuine Authentic: The Real Life of Ralph Lauren, told Bloomberg. "He projected himself into scenes where Gary Cooper and Cary Grant were playing. He sees the characters that populate his dreams and visions, and that vision, that ability to enter a fantasy world, Ralph carried her into the fashion business. ."

He broke away even more from his humble origins in his teens when he chose to change his name from Lipschitz to Lauren, after enduring years of teasing and bullying.

Then, after a short stint in the military, Lauren returned to New York and started working as a salesman at Brooks Brothers.

Then his first polo match transformed him. This experience helped him shape his ideas and activated his entrepreneurial spirit. "We saw fabulous things," recalls Warren Helstein, his friend who took him to the game. "Money, leather, horses, tall, chic blondes in big hats, and high society that we didn't really know."

This event prompted him to develop a refined and elegant brand, which would become Polo Ralph Lauren.

With only a high school diploma and a few business courses up her sleeve, deciding to start her own business was the first of many risks Lauren took in her storied career.

The second risk was to design wide and colorful ties when the norm of the time was "thin and plain." This radical approach convinced Bloomingdale's, as well as a ton of customers. Ralph Lauren sold $500,000 worth of ties in one year.

Despite very rapid success, Lauren has grown her business relentlessly. "Ralph is not resting on his laurels," said John Varvatos, his protege. "You can enjoy the moment but have to keep pushing things forward. You can't be satisfied with just one success."

When it came to coming up with new designs, Lauren kept it simple. He imagined clothes that he himself would want to wear: clothes made for movie stars.

"What Cary Grant wore, you couldn't walk into a store and buy it," he explained to Charlie Rose in 1993. "What I created, you couldn't buy it. You couldn't find it anywhere."

Lauren took his company public in 1997. It was a tough decision, he didn't know if he wanted shareholders and a committee. He also made sure to keep the majority of votes.

The little boy who dreamed big and dreamed of being a millionaire is enjoying his success today, at 75, with homes in Jamaica, Long Island, Bedford and Manhattan, and also a ranch of about 69 km² (17 000 acre) in Colorado.

It also has one of the largest car collections in the world. “Others collect art, but for me, owning a rare and beautiful car is a whole different experience,” he told Architectural Digest. "In the end, you can enjoy the beauty of the machine, and the journey it gives you."

Lauren shows no signs of slowing down. Despite the fact that he has retired from his position as CEO, he has no plans to leave his company at all.

"When they start creating things that I can't understand, I'll quit," he told The New York Times. "But today, I don't feel like I'm late."

Article by Kathleen Elkins. Translation by Caroline Brenière, JDN

See original article: From dirt poor to billionaire — the incredible rags-to-riches story of fashion legend Ralph Lauren​