FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * LAUREN RALPH   2. Issuer Name and Ticker or Trading Symbol POLO RALPH LAUREN CORP [RL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman & CEO (Last) (First) (Middle) 650 MADISON AVE 3. Date of Earliest Transaction (Month/Day/Year) 07/15/2009 (Street) NEW YORK, NY 10022 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Stock 07/15/2009   M   27,600 A $ 13.9688 544,049.12 D   Class A Common Stock 07/15/2009   C   100,000 A $ 0 644,049.12 D   Class A Common Stock 07/15/2009   S(1)   85,200 D $ 52.844 (2) 558,849.12 D   Class A Common Stock 07/15/2009   S(1)   42,400 D $ 53.241 (3) 516,449.12 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Underlying Securities (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class A Common Stock Option (Right to Buy)	$ 13.9688	07/15/2009		M			27,600	(4)	06/13/2010	Class A Common Stock	27,600	$ 0	139,600	D
Class B Common Stock	$ 0	07/15/2009		C			100,000	(5)	(5)	Class A Common Stock	100,000	$ 0	19,053,231	D
Class B Common Stock	(5)							(5)	(5)	Class A Common Stock	1,557,503		1,557,503	I	By RL Family, LP
Class B Common Stock	(5)							(5)	(5)	Class A Common Stock	10,477,570		10,477,570	I	By RL Holding, LP
Class B Common Stock	(5)							(5)	(5)	Class A Common Stock	29,058		29,058	I	By RL Holding Group, Inc.
Class B Common Stock	(5)							(5)	(5)	Class A Common Stock	7,101,919		7,101,919	I	By GRATs
Class B Common Stock	(5)							(5)	(5)	Class A Common Stock	3,183,862		3,183,862	I	By Wife's GRATs

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
LAUREN RALPH 650 MADISON AVE NEW YORK, NY 10022	X	X	Chairman & CEO

Signatures

Yen D. Chu, Attorney-in-Fact		07/16/2009
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan established by the reporting person in connection with his individual long-term strategy for estate planning.
(2)	The price represents the weighted average sale price for multiple transactions reported on this line. The prices of the transactions ranged from $52.16 to $53.16. Upon request of the SEC staff, Polo Ralph Lauren Corporation (the "Company") or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold at each separate price.
(3)	The price represents the weighted average sale price for multiple transactions reported on this line. The prices of the transactions ranged from $53.17 to $53.40. Upon request of the SEC staff, the Company or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold at each separate price.
(4)	The options vested and became exercisable in three equal annual installments beginning on June 13, 2001. These options are scheduled to expire on June 13, 2010.
(5)	The reporting person has the right, at his option, at any time and from time to time, to convert shares of Class B Common Stock into Class A Common Stock on a one-for-one basis.

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