EXHIBIT 99.1
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POLO RALPH LAUREN ACQUIRES FULL OWNERSHIP OF POLO.COM

- - $175 Million Cash Transaction to Acquire Remaining 50% of Equity in
Online Business

New York, NY (March 29, 2007) - Polo Ralph Lauren  Corporation (NYSE: RL) today
announced  that it has bought out the 50%  ownership  interest of Ralph  Lauren
Media, LLC held by NBC-Lauren Media Holdings,  Inc. (a subsidiary  wholly owned
by NBC Universal) and ValueVision  Media,  Inc.,  giving Polo full ownership of
the Polo.com operation. The acquisition is a cash transaction of $175 million.

"Over the past seven years, we have enjoyed a strong  partnership with both NBC
and  ValueVision  which enabled us to expand the world of Ralph Lauren  online.
Together  we have  built a  powerful  presence  that  combines  creativity  and
commerce in a virtual  flagship  store," said Ralph Lauren,  Chairman and Chief
Executive  Officer of Polo Ralph  Lauren.  "We are excited  about our  complete
ownership of Polo.com as we look to grow and elevate our e-commerce presence on
a worldwide basis."

"This is a very  successful  and growing  business that has become an important
part of our domestic retail shopping experience.  This transaction allows us to
fully integrate the operations of Polo.com into our existing  organization  and
leverage our operational expertise to maximize the online sales performance and
financial  contribution to our company," said Roger Farah, Polo's President and
Chief Operating Officer.  "In addition,  we believe there are tremendous growth
opportunities for Polo.com internationally.  Today more than 30% of the traffic
on Polo.com  comes from  international  domains as consumers want to browse and
experience the world of Ralph Lauren even though international  shipping is not
currently offered."

Ralph  Lauren  Media was created  seven years ago as a joint  venture  with 50%
ownership by Polo Ralph Lauren Corporation, 37.5% by NBC subsidiaries and 12.5%
by  ValueVision  to develop Polo Ralph Lauren  branded  media  projects  across
multiple platforms.  The venture's first initiative,  Polo.com,  has become the
premier online  destination for the domestic Ralph Lauren  customer  offering a
comprehensive  collection of brands and merchandise  assortment for men, women,
children and home as well as style guides,  an online magazine,  RLTV and Ralph
Lauren fashion shows.  The site attracts more than 2.2 million unique  visitors
per month, with traffic increasing more than 30% in the last year. Polo.com has
won numerous  awards for  creativity  since its inception and was most recently
rated the Most Effective Luxury Website by the Luxury Institute.

ABOUT POLO RALPH LAUREN
Polo Ralph Lauren Corporation  (NYSE: RL) is a leader in the design,  marketing
and distribution of premium  lifestyle  products in four  categories:  apparel,
home, accessories and fragrances. For more than 39 years, Polo's reputation and
distinctive image have been  consistently  developed across an expanding number
of products, brands and international markets. The Company's brand names, which
include Polo by Ralph Lauren,  Ralph Lauren Purple Label,  Ralph Lauren,  Black
Label, Blue Label,  Lauren by Ralph Lauren,  RRL, RLX, Rugby, RL Childrenswear,
Chaps and Club Monaco,  constitute  one of the world's  most widely  recognized
families    of    consumer    brands.    For    more    information,    go   to
http://investor.polo.com.



CONTACT:

PRL Corporate
Wendy Smith, 212-583-2262

or

PRL Investor Relations
Nancy Murray, 212-813-7862