Ralph Lauren teams up with Franklin Venture Partners to invest in consumer tech companies

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Ralph Lauren Corp. RL, +1.96% announced a strategic limited partnership with Franklin Venture Partners on Monday that will facilitate Ralph Lauren’s investment in consumer tech companies, with a focus on women-led businesses. Financial details of the partnership were not disclosed. Ralph Lauren announced a minority investment in Natural Fiber Welding, a sustainable fabric science startup in August 2020. More recently, the luxury label announced new clothing innovations, including the RLX Clarus Polo Shirt, which behaves like nylon but was developed with cotton fabric by Natural Fiber Welding. The shirt made its debut at the Australian Open tennis tournament. Ralph Lauren shares are up 8.2% over the last year whiel the S&P 500 index SPX, +2.43% has run up 19.3%.

This article was originally published by Marketwatch.com. Read the original article here.

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