Ralph Lauren ECONOMIC

Supply Chain & Sourcing Relationships

• A Factory 54 listing for a Polo Ralph Lauren polo shirt identifies Al-Srad Ltd. as importer, lists a Tel Aviv address and company number 511199291, identifies RL Fashions of Europe SRL as supplier, and states Vietnam as the country of manufacture for that item.¹

• The item-level listing supports an Israeli third-party import/distribution mechanism for that product, but does not establish direct sourcing by Ralph Lauren from an Israeli manufacturer, settlement sourcing, or manufacture under the Delta Galil licence.^{1, 2, 3, 4}

• Irani Corp describes itself as also known as Al-Srad Ltd., privately owned by the Irani family, and active in wholesale, mono-brand, multi-brand, and e-commerce channels.⁵

• Irani Corp also represents that it is the sole Israeli distributor for more than 100 international brands, including Polo Ralph Lauren, but this is the distributor’s own undated representation rather than a Ralph Lauren contractual disclosure.⁵

• Ralph Lauren’s FY2023, FY2024, and FY2025 filings identify Delta Galil (global) as a licensing partner for women’s intimates and sleepwear, supporting a continuing global licensing relationship through the FY2025 filing.^{2, 6, 7}

• Delta Galil’s 2023 report states that its Brands segment included global licence agreements with Polo Ralph Lauren and that the group sells licensed “Ralph Lauren Polo” products in Israel; however, the report’s broader descriptions of intimate apparel, socks, children’s wear, leisurewear, sleepwear, swimwear, and activewear describe segment or licensed-product activity generally, not a product-by-product Polo Ralph Lauren grant.³

• Delta Galil’s 2024 report continues to list Polo Ralph Lauren among Brands-segment licensed labels and attributes part of the segment’s sales increase to the 2024 launch of Polo Ralph Lauren licences; the 2023 and 2024 disclosures support activity in both reporting periods but use different launch wording.^{3, 4}

• Delta Galil’s 2025 release continues to name Polo Ralph Lauren among brands licensed to the company, corroborating licence activity in 2025 without identifying a contracting subsidiary, product range, manufacture location, or territory.⁸

• Delta’s standard Brands-segment disclosure says such licences are typically three to four years, include royalties and other payments generally ranging from 5% to 14% of revenue, and regulate matters including manufacture, product development, sales plans, prototypes, and quality oversight; these are group-level typical terms, not proof of the Ralph Lauren agreement’s term, royalty rate, factories, or conditions.^{3, 4}

• Delta’s 2024 report states that Brands-segment licence sales are mostly to customers in the United States and describes segment sourcing generally as approximately 83% subcontractor purchases from the Far East, Eastern Europe, and North Africa and approximately 17% manufacture at Delta sites in the Czech Republic, France, and Egypt; it does not allocate these sourcing figures or territories to Ralph Lauren products.⁴

• The public record supports a global Ralph Lauren–Delta Galil relationship for women’s intimates and sleepwear and Delta’s statement that it sells Ralph Lauren Polo-branded licensed products in Israel, but does not publicly identify the executing Ralph Lauren or Delta legal entities, signature or effective date, expiry date, exact territorial schedule, product scope beyond the disclosed category, royalties, factories, inventory locations, or whether Israel sales are supplied under the global agreement.^{2, 6, 3, 8, 4}

• Ralph Lauren’s significant-subsidiary exhibit lists sourcing and import/export entities in China and Hong Kong, but does not list an entity formed in Israel.⁹

• No public evidence identified of Ralph Lauren procurement from Israeli agricultural exporters, including Mehadrin, Hadiklaim, Galilee Export, Agrexco successors, or other Israeli agricultural exporters; recurring seasonal sourcing from Israeli suppliers; an Israeli-owned Ralph Lauren importer of record; or Israeli-origin white-label food or agricultural products.^{9, 2}

Product Origin, Labeling & Regulatory Compliance

• The reviewed Factory 54 product page identifies Vietnam, rather than Israel or a settlement area, as the country of manufacture for the listed Polo Ralph Lauren garment.¹

• No new evidence identified of Ralph Lauren products manufactured in Israel, the West Bank, East Jerusalem, or the Golan Heights.^{1, 2, 3, 4}

• No public evidence identified of a Ralph Lauren-specific regulatory citation, customs finding, NGO investigation, DEFRA finding, or corporate policy addressing settlement-origin goods or their country-of-origin labelling.^{1, 10, 11, 2}

• The available retail, product-label, and distributor records do not establish settlement origin, settlement sourcing, or settlement retail activity for Ralph Lauren.^{1, 5, 12, 13, 14, 15, 16}

• The supplied document-scoped pre-scan reported no Ralph Lauren mention in the cited UN Special Rapporteur report, OHCHR’s 2023 and 2025 settlement-business database updates, DBIO 2024/2025, PAX’s 2024 financier report, and other specified reports.^{10, 11, 17}

• This document-scoped no-hit result does not exclude activity by differently named entities, licensees, distributors, or future database entries.^{10, 11, 17}

Investment, Capital & Financial Exposure

• No public evidence identified of a Ralph Lauren acquisition or controlling stake in Delta Galil, Delta Israel Brands, an Israeli operating company, factory, research centre, logistics hub, data centre, or real-estate investment.^{9, 2, 3, 4}

• The Delta Galil relationship is a third-party licensing relationship and is not evidence that Ralph Lauren acquired, controlled, or invested in Delta Galil, Delta Israel Brands, or the reported Barkan warehouse.^{9, 2, 3, 18, 4}

• No public evidence identified of Ralph Lauren holdings in Israeli sovereign bonds, Israel-focused funds, OHCHR-listed companies, Israeli defence companies, or financing of Israeli state debt or Israel Bonds.^{9, 10, 11, 2}

• Ralph Lauren’s FY2025 filing describes ongoing operations in Israel as not material, without providing Israel-specific revenue, workforce, assets, or country-level investment figures.²

• Ralph Lauren reports North America, Europe, Asia, and non-reportable licensing revenues in its geographic reporting, without separately disclosing Israel revenue or identifying Israel as a reportable market.²

• The Ralph Lauren Corporate Foundation’s fiscal-year 2025 filing reports $5,033,617 in charitable disbursements, while its fiscal-year 2024 filing reports $5,758,506.^{19, 20}

• The accessible foundation-filing interface did not render grant-recipient schedules for review, so those filings do not establish the recipients or geographic allocation of the reported disbursements.^{19, 20}

• No exhaustive current review was completed of individual controlling principals’ or family-office investments in Israeli companies; the supplied review found no sufficient evidence for attribution but was not a comprehensive person-by-person financial-record search.^{2, 21}

Operational Presence & Market Activity

• Ralph Lauren’s official store locator lists three branded locations in Israel: Tel Aviv, Rishon Lezion, and the Dead Sea.¹²

• Ralph Lauren’s official location pages identify the Tel Aviv site as Ramat Aviv Mall, 40 Einstein Street; the Rishon Lezion site as Golden Mall, 21 David Saharov; and the Dead Sea site as Ein Bokek.^{13, 14, 15}

• The official locator establishes branded consumer-market locations, but does not identify the legal owner or operator of each site, whether the locations are company-operated, franchised, or concession-based, or a relationship to Delta Galil.^{12, 13, 14, 15, 2}

• Factory 54’s store list includes Polo Ralph Lauren-branded locations at Big Fashion Ashdod, Big Glilot, Mamilla in Jerusalem, Ramat Aviv Mall, and Golden Mall.¹⁶

• Factory 54’s store page does not establish the contractual relationship between Factory 54, Al-Srad/Irani Corp, and Ralph Lauren, nor that every listed location is directly operated by Ralph Lauren.^{5, 16}

• Factory 54 offers Polo Ralph Lauren goods through its Israel-facing e-commerce storefront.^{1, 16}

• Who Profits’ Delta Galil profile, marked valid through 22 October 2024, reports that Delta Galil rented and operated a 1,680-square-metre warehouse in the Barkan industrial zone in May 2011; the profile does not identify products, customers, brands stored, or whether the warehouse remained active after that dated observation.^{18, 22}

• The same profile attributes branches in Pisgat Ze’ev and Ramot in East Jerusalem and Ma’ale Adumim in the West Bank to Delta Galil subsidiary Delta Israel Brands, and identifies Polo Ralph Lauren among Delta Galil’s general franchise-agreement brands; it does not map Polo Ralph Lauren to those branches or to Barkan.^{18, 22}

• Delta Galil’s 2024 report states that Delta Israel Brands Ltd. was 79.97%-owned as of 31 December 2024 and separately describes its Brands segment, containing Polo Ralph Lauren licences, and its Delta Israel segment’s core owned brands; it does not identify Polo Ralph Lauren as a Delta Israel retail brand or assign Ralph Lauren products to a settlement store.⁴

• No public evidence identified that Ralph Lauren products were manufactured, sourced, stored, distributed, or sold at the Barkan warehouse, or that Ralph Lauren-branded products were sold at the identified Delta Israel Brands branches in Pisgat Ze’ev, Ramot, or Ma’ale Adumim.^{2, 3, 18, 8, 22, 4}

• No public evidence identified of a current Barkan warehouse lease or operation after the May 2011 documentation.^{18, 22}

• Accordingly, the record documents reported Delta Galil and Delta Israel Brands settlement-linked activity, while not establishing Ralph Lauren-specific storage, sourcing, manufacture, distribution, or settlement retail activity.^{2, 3, 18, 8, 22, 4}

• Ralph Lauren’s FY2025 filing confirms ongoing Israeli operations as of 22 May 2025, described as not material, but does not identify their operator, locations, products, or a link to Delta Galil facilities.²

• No public evidence identified of Ralph Lauren’s Israel workforce, Israeli tax registration, warehouse or support-centre footprint, a current Ralph Lauren-specific retail location in a West Bank settlement, East Jerusalem settlement, or the Golan Heights, or a company disclosure characterising Israel as a strategic or material market.^{12, 13, 14, 15, 2}

Corporate Structure & Foundational Ties

• Ralph Lauren Corporation is incorporated in Delaware, has principal executive offices at 650 Madison Avenue in New York, and trades Class A common stock on the NYSE under the symbol RL.²

• The reviewed FY2025 filing identifies Ralph Lauren Corporation as the registrant and does not identify a separate corporate parent.²

• Ralph Lauren beneficially held all 21,881,276 Class B shares and 85.2% of total voting power as of the 3 June 2025 record date, through Ralph Lauren-controlled or benefiting trusts and Lauren Family, L.L.C.²¹

• The 2025 proxy identifies Ralph Lauren as Executive Chairman and Chief Creative Officer, Patrice Louvet as President and Chief Executive Officer, David Lauren as Vice Chairman, Chief Branding and Innovation Officer, and Strategic Advisor to the CEO, and Justin Picicci as Chief Financial Officer.^{2, 21}

• The company’s board page lists Ralph Lauren, Angela Ahrendts, Frank A. Bennack Jr., Cesar Conde, Debra Cupp, Linda Findley, Michael A. George, Valerie Jarrett, David Lauren, Patrice Louvet, Darren Walker, and Wei Zhang as directors.²³

• Ralph Lauren’s 1997 SEC-filed material stated that the company had concluded a licensing alliance for Israel and planned three Polo stores for autumn 1997.²⁴

• The same 1997 material described international licensing partners as acquiring rights to source, produce, market, and/or sell products in a territory.²⁴

• The U.S. International Trade Administration stated in 2019 that Ralph Lauren was among U.S. brands present in Israel mostly under master-franchise agreements, but this overview does not identify a current counterparty or contract terms.²⁵

• Globes reported in 1997 that Polgat held rights to distribute, manufacture, and sell Polo Ralph Lauren products in Israel under an agreement running through 2001, subject to an extension option.²⁶

• The historical Polgat reporting and 1997 licensing material do not establish that Polgat remains a current licensee or counterparty, or identify the current Delta Galil contractual chain.^{24, 26}

• Delta Galil’s materials describe a distinct Israeli company with Delta Israel Brands as a controlled, separately listed subsidiary; this is not a Ralph Lauren subsidiary.^{3, 4, 27}

• No public evidence identified in the reviewed authoritative corporate records that Ralph Lauren was founded in Israel, maintains Israeli headquarters or tax residency, has Israeli state ownership, Israeli beneficial control, government appointees, an acquired or controlled Israeli operating subsidiary, or governance mechanisms structurally tying it to the Israeli state.^{9, 2, 21}

Profit Repatriation & Economic Contribution

• The available official retailer, product-label, distributor, and licensing sources establish sales channels in Israel and a Ralph Lauren–Delta Galil licensing relationship, but do not disclose Ralph Lauren’s Israel-specific revenue, profit allocation, royalty flows, tax payments, or economic significance to Israel’s apparel sector.^{1, 5, 12, 16, 2, 3, 8, 4}

• Ralph Lauren’s FY2025 filing states that ongoing Israeli operations are not material, while not providing country-level financial or workforce figures.²

• No public evidence identified of Ralph Lauren-disclosed Israel revenue, the direction or amount of profit repatriation, Israeli tax contribution, or an official or industry designation of Ralph Lauren as a key Israeli employer or sector anchor.²

• No public evidence identified of Ralph Lauren-specific revenue, royalties, or other economic flows attributable to Israel or occupied territories through the Delta Galil licence.^{2, 3, 8, 4}

• The reviewed FY2025 subsidiary exhibit does not list an Israeli-formed significant subsidiary, but this does not establish the absence of a branch, distributor, franchisee, or non-significant entity.⁹

• The relationship among Ralph Lauren Corporation, RL Fashions of Europe SRL, Al-Srad Ltd./Irani Corp, Delta Galil, Delta Israel Brands, and the individual Israeli retail locations requires confirmation through a current licence agreement, corporate filing, trademark record, or direct contractual disclosure.^{1, 5, 12, 13, 14, 15, 16, 2, 3, 4}