Ralph Lauren Store On Greenwich Avenue Closes

GREENWICH, CT — The local Ralph Lauren store, located at 265 Greenwich Ave., has closed after eight years.

The move follows the closure of other Ralph Lauren retail locations, including its mammoth store at 711 Fifth Ave. in Manhattan, as the beleaguered clothing giant seeks to streamline operations and cut costs, according to an April 4 announcement.

"These decisions, together with actions to continue to streamline the organization, cost structure and real estate portfolio, will result in approximately $140 million in annualized expense savings, which will also help fund investments for future growth," wrote the company in the statement earlier last month.

Measuring 19,000 square feet, the Greenwich Avenue store was one of more than 480 company-owned retail sites around the world, and the closure also came as the company parted ways with CEO Stefan Larsson, writes CNN Money.

The company remains locked in a long-term lease at the Greenwich Avenue site, and it will look to sublease the space to another merchant, reports The Hour.

Photos: Former Ralph Lauren store at 265 Greenwich Ave., Greenwich. Photo credit: Alfred Branch

(Editor's Note: Patch is re-posting this story in case you missed it the first time around.)