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Article: Polo Ralph Lauren Purchases Polo Store in Beverly Hills
- Article from:
- PR Newswire
- Article date:
- June 25, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, June 25 /PRNewswire/ -- Polo Ralph Lauren (NYSE: RL) announced today that they have reached a definitive agreement to purchase the Polo Ralph Lauren Beverly Hills store currently operated and owned by Jerry Magnin.
Under the agreement, Polo Ralph Lauren will assume full ownership of the Los Angeles based store later this summer. The Beverly Hills store dates back to 1971 and was the first freestanding Polo Ralph Lauren store. It was moved to its present site in 1987.
"The legacy that Jerry Magnin has established in that market has been an important foundation to our business. He helped me realize a dream twenty-seven years ago when the ...