Shares in Ralph Lauren soar after First Lady Melania wears the designer for President Trump’s inauguration
First Lady Melania Trump opted for Ralph Lauren as she proudly watched her husband Donald become the 45th president of the United States. The 46 year old former model chose a baby blue Ralph Lauren dress and matching coat, as well as a long pair of suede gloves by the designer.
After she was seen by millions around the globe holding onto the bible as her husband took his oath of officer, share prices in Ralph Lauren rocketed. Before the inauguration ceremony, in which Melania wore the Jackie Kennedy inspired outfit, shares were standing at $88.20. However just an hour after Melania was first seen in the outfit, shares were up to $88.32 and by the end of the day, they stood at $88.90.
Ralph Lauren is also a favourite of President Trump’s rival, Democrat Hillary Clinton, who has worn the designer throughout her unsuccessful election campaign. Mrs Clinton also wore an ivory Ralph Lauren pants suit to watch President Trump as he took office.
The choice of outfit worn by the First Lady often has a huge impact on a designer’s fortunes. In 2009, former First Lady Michelle Obama opted for a dress by Jason Wu, which gave the young designer at huge boost. When, in 2016, the Narcisso Rodriguez gown she wore for her husband’s State of the Union address sold out.
However, despite this potential positive impact on sales, Tom Ford said he would not be dressing the First Lady. So far, Melania has won widespread praise for her fashion choices over the historic weekend. At a dinner for supporters on the eve of his inauguration, she opted for a tight fitting gold column dress before choosing the more sedate Ralph Lauren number as he was sworn in. Prior to the inauguration, she was seen wearing a military inspired coat by the New York designer Norisol Ferrari, who said that she wanted to give Melania her own voice.