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Ralph Lauren to exit Argentina Thursday, 10th May 2012
American fashion retailer Ralph Lauren is planning on pulling out of Argentina after being plagued by import barriers, restrictive red tape, currency troubles and the vast reduction of tourists visiting the country.
At a time when many other retailers are looking to Latin America as an area for massive potential growth, Ralph Lauren will close its flagship store on Avenida Alvear and two other stores in the country.
The preppy fashion brand is not the only company to run into trouble in South America. Yves Saint Laurent also left Argentina last year after 30 years.