UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 5)*
POLO RALPH LAUREN CORPORATION
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(Name of Issuer)
CLASS A COMMON STOCK, PAR VALUE $.01 PER SHARE
-------------------------------------------------------------------------------
(Title of Class of Securities)
731572103
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(CUSIP Number)
BEN I. ADLER, ESQ.
GOLDMAN, SACHS & CO.
85 BROAD STREET
NEW YORK, NEW YORK 10004
-----------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
FEBRUARY 25, 2004
-----------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check
the following box [_].
NOTE: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
SCHEDULE 13D
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CUSIP NO. 731572103 Page 2 of 12
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-------- ------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GOLDMAN, SACHS & CO.
-------- ------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
2 (b) [_]
-------- ------------------------------------------------------------------
SEC USE ONLY
3
-------- ------------------------------------------------------------------
SOURCE OF FUNDS
4
AF-WC
-------- ------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) OR 2(e) [_]
-------- ------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
NEW YORK
-------------------- ------- ----------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
0
SHARES
------- ----------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
2,291
OWNED BY
------- ----------------------------------------------
SOLE DISPOSITIVE POWER
EACH 9
0
REPORTING
------- ----------------------------------------------
SHARED DISPOSITIVE POWER
PERSON 10
2,291
WITH
-------- ------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,291
-------- ------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
12 SHARES [_]
-------- ------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
LESS THAN 0.1%
-------- ------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
BD-PN-IA
-------- ------------------------------------------------------------------
SCHEDULE 13D
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CUSIP NO. 731572103 Page 3 of 12
--------------------------- ---------------------------
-------- ------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
THE GOLDMAN SACHS GROUP, INC.
-------- ------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
2 (b) [_]
-------- ------------------------------------------------------------------
SEC USE ONLY
3
-------- ------------------------------------------------------------------
SOURCE OF FUNDS
4
AF-OO
-------- ------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) OR 2(e) [_]
-------- ------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
DELAWARE
-------------------- ------- ----------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
0
SHARES
------- ----------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
2,291
OWNED BY
------- ----------------------------------------------
SOLE DISPOSITIVE POWER
EACH 9
0
REPORTING
------- ----------------------------------------------
SHARED DISPOSITIVE POWER
PERSON 10
2,291
WITH
-------- ------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,291
-------- ------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
12 SHARES [_]
-------- ------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
LESS THAN 0.1%
-------- ------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
HC-CO
-------- ------------------------------------------------------------------
SCHEDULE 13D
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CUSIP NO. 731572103 Page 4 of 12
--------------------------- ---------------------------
-------- ------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GS CAPITAL PARTNERS, L.P.
-------- ------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
2 (b) [_]
-------- ------------------------------------------------------------------
SEC USE ONLY
3
-------- ------------------------------------------------------------------
SOURCE OF FUNDS
4
WC
-------- ------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) OR 2(e) [_]
-------- ------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
DELAWARE
-------------------- ------- ----------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
0
SHARES
------- ----------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
0
OWNED BY
------- ----------------------------------------------
SOLE DISPOSITIVE POWER
EACH 9
0
REPORTING
------- ----------------------------------------------
SHARED DISPOSITIVE POWER
PERSON 10
0
WITH
-------- ------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
0
-------- ------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
12 SHARES [_]
-------- ------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.0%
-------- ------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
PN
-------- ------------------------------------------------------------------
SCHEDULE 13D
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CUSIP NO. 731572103 Page 5 of 12
--------------------------- ---------------------------
-------- ------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GS ADVISORS, L.L.C.
-------- ------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
2 (b) [_]
-------- ------------------------------------------------------------------
SEC USE ONLY
3
-------- ------------------------------------------------------------------
SOURCE OF FUNDS
4
AF
-------- ------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) OR 2(e) [_]
-------- ------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
DELAWARE
-------------------- ------- ----------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
0
SHARES
------- ----------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
0
OWNED BY
------- ----------------------------------------------
SOLE DISPOSITIVE POWER
EACH 9
0
REPORTING
------- ----------------------------------------------
SHARED DISPOSITIVE POWER
PERSON 10
0
WITH
-------- ------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
0
-------- ------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
12 SHARES [_]
-------- ------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.0%
-------- ------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
OO
-------- ------------------------------------------------------------------
SCHEDULE 13D
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CUSIP NO. 731572103 Page 6 of 12
--------------------------- ---------------------------
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
STONE STREET FUND 1994, L.P.
-------- ------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
2 (b) [_]
-------- ------------------------------------------------------------------
SEC USE ONLY
3
-------- ------------------------------------------------------------------
SOURCE OF FUNDS
4
WC
-------- ------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) OR 2(e) [_]
-------- ------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
DELAWARE
-------------------- ------- ----------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
0
SHARES
------- ----------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
0
OWNED BY
------- ----------------------------------------------
SOLE DISPOSITIVE POWER
EACH 9
0
REPORTING
SHARED DISPOSITIVE POWER
PERSON 10
0
WITH
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
0
-------- ------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
12 SHARES [_]
-------- ------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.0%
-------- ------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
PN
-------- ------------------------------------------------------------------
SCHEDULE 13D
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CUSIP NO. 731572103 Page 7 of 12
--------------------------- ---------------------------
-------- ------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BRIDGE STREET FUND 1994, L.P.
-------- ------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
2 (b) [_]
-------- ------------------------------------------------------------------
SEC USE ONLY
3
-------- ------------------------------------------------------------------
SOURCE OF FUNDS
4
WC
-------- ------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) OR 2(e) [_]
-------- ------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
DELAWARE
-------------------- ------- ----------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
0
SHARES
------- ----------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
0
OWNED BY
------- ----------------------------------------------
SOLE DISPOSITIVE POWER
EACH 9
0
REPORTING
------- ----------------------------------------------
SHARED DISPOSITIVE POWER
PERSON 10
0
WITH
-------- ------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
0
-------- ------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
12 SHARES [_]
-------- ------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.0%
-------- ------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
PN
-------- ------------------------------------------------------------------
SCHEDULE 13D
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CUSIP NO. 731572103 Page 8 of 12
--------------------------- ---------------------------
-------- ------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
STONE STREET FUND 1994, L.L.C.
-------- ------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
2 (b) [_]
-------- ------------------------------------------------------------------
SEC USE ONLY
3
-------- ------------------------------------------------------------------
SOURCE OF FUNDS
4
AF
-------- ------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
5 PURSUANT TO ITEMS 2(d) OR 2(e) [_]
-------- ------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
DELAWARE
-------------------- ------- ----------------------------------------------
SOLE VOTING POWER
NUMBER OF 7
0
SHARES
------- ----------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
0
OWNED BY
------- ----------------------------------------------
SOLE DISPOSITIVE POWER
EACH 9
0
REPORTING
------- ----------------------------------------------
SHARED DISPOSITIVE POWER
PERSON 10
0
WITH
-------- ------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
0
-------- ------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
12 SHARES [_]
-------- ------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.0%
-------- ------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
OO
-------- ------------------------------------------------------------------
This Amendment No. 5, filed by GS Capital Partners, L.P. ("GS
Capital"), Stone Street Fund 1994, L.P. ("Stone Street"), Bridge Street
Fund 1994, L.P. ("Bridge Street" and, together with GS Capital and Stone
Street, the "Limited Partnerships"), GS Advisors, L.L.C. ("GS Advisors"),
Stone Street 1994, L.L.C. ("Stone GP"), Goldman, Sachs & Co. ("Goldman
Sachs") and The Goldman Sachs Group, Inc. ("GS Group" and, together with
Goldman Sachs, GS Advisors, Stone GP and the Limited Partnerships, the
"Filing Persons")(1), amends and supplements the Schedule 13D filed by the
Filing Persons with the Securities and Exchange Commission (the "SEC") on
July 10, 1997 (as amended by Amendment No. 1 filed on April 23, 1998,
Amendment No. 2 filed on July 7, 2000, Amendment No. 3 filed on May 16,
2002 and Amendment No. 4 filed on February 6, 2004, the "Schedule 13D")
relating to the Class A common stock, par value $0.01 per share (the "Class
A Common Stock"), of Polo Ralph Lauren Corporation, a Delaware corporation
(the "Company"). Capitalized terms used but not otherwise defined herein
shall have the meanings ascribed to such terms in the Schedule 13D.
--------
1 Neither the present filing nor anything contained herein shall be
construed as an admission that any Filing Person constitutes a
"person" for any purposes other than Section 13(d) of the
Securities Exchange Act of 1934.
ITEM 4. PURPOSE OF TRANSACTION.
----------------------
Item 4 is hereby amended by adding the following at the end
thereof:
In connection with the exercise by the Limited Partnerships of
their demand registration rights pursuant to the Registration Rights
Agreement with respect to an aggregate of 10,570,979 shares of Class A
Common Stock, the Company filed a registration statement on Form S-3 (No.
333-112730) on February 12, 2004. On February 25, 2004, the Limited
Partnerships entered into an underwriting agreement (the "Underwriting
Agreement") with the Company and the several underwriters listed in
Schedule I to the Underwriting Agreement (collectively, the
"Underwriters"). The Underwriting Agreement provides for the sale by the
Limited Partnerships to the Underwriters of 9,192,156 shares of Class A
Common Stock (the "Firm Shares") pursuant to an underwritten public
offering at a price per share of $29.60 (which is net of underwriting
discounts and commissions) for an aggregate amount of $272,087,817.60. In
addition, pursuant to the Underwriting Agreement, the Limited Partnerships
granted the Underwriters an option (the "Over-Allotment Option"),
exercisable within 30 days after the date of the Underwriting Agreement, to
purchase, in whole or in part, an additional 1,378,823 shares of Class A
Common Stock (the "Option Shares") at the same purchase price per share for
an aggregate amount of $40,813,160.80. On February 26, 2004, the
Underwriters elected to exercise the Over-Allotment Option in full. In
connection with the sale of the Firm Shares and the Option Shares (the
"Offering"), the Limited Partnerships will convert all of the shares of
Class C Common Stock held by them into shares of Class A Common Stock. The
consummation of the Offering is expected to occur on March 2, 2004, as
reported by the Company in the final prospectus, dated February 25, 2004
(the "Offering Prospectus"), filed by the Company pursuant to Rule 424
of the Securities Act of 1933, as amended.
In addition, pursuant to the Underwriting Agreement, Goldman
Sachs, as an Underwriter, agreed to purchase an aggregate of 6,871,136
shares of Class A Common Stock in connection with the Offering (consisting
of 5,974,901 Firm Shares and 896,235 Option Shares). The foregoing
description of the Underwriting Agreement is not intended to be complete
and is qualified in its entirety by the complete text of the form of
Underwriting Agreement, a copy of which is filed as Exhibit 99.13 hereto.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
------------------------------------
Items 5(a)-(e) are hereby amended in their entirety as follows:
(a) After giving effect to the conversion by the Limited
Partnerships of all of the shares of Class C Common Stock held by them into
shares of Class A Common Stock and assuming that the Offering is
consummated on March 2, 2004, based on information reported by the Company
in the Offering Prospectus, there will be 56,394,273 shares of Class A
Common Stock (99,674,294 shares of Class A Common Stock, assuming all
shares of Class B Common Stock are converted into shares of Class A Common
Stock) and 43,280,021 shares of Class B Common Stock outstanding upon
consummation of the Offering.
As of March 2, 2004, assuming consummation of the Offering on
such date, each of GS Capital, GS Advisors, Stone Street, Bridge Street and
Stone GP will no longer be deemed to beneficially own any shares of Class A
Common Stock.
As of February 25, 2004, which is the date of the most recently
available information, each of Goldman Sachs and GS Group may be deemed to
beneficially own 2,291 shares of Class A Common Stock held as a result of
ordinary course trading activities by Goldman Sachs. Accordingly, as of
March 2, 2004, assuming consummation of the Offering on such date and
assuming no material change in the ordinary course trading position since
February 25, 2004, Goldman Sachs and GS Group may be deemed to beneficially
own 2,291 shares of Class A Common Stock, representing less than 0.1% of
the shares of Class A Common Stock outstanding as of March 2, 2004 (whether
or not all outstanding shares of Class B Common Stock were converted into
shares of Class A Common Stock).
In accordance with SEC Release No. 34-39538 (January 12, 1998),
this filing reflects the securities beneficially owned by the investment
banking division of GS Group and its subsidiaries and affiliates
(collectively, "IBD"). This filing does not reflect securities, if any,
beneficially owned by any other operating unit of GS Group. IBD disclaims
beneficial ownership of the securities beneficially owned by (i) any client
accounts with respect to which IBD or its employees have voting or
investment discretion, or both and (ii) certain investment entities, of
which IBD is the general partner, managing general partner or other
manager, to the extent interests in such entities are held by persons other
than IBD.
None of the Filing Persons or, to the knowledge of any of the
Filing Persons, any of the persons listed on Schedules I, II-A-i, II-A-ii,
II-B-i or II-B-ii hereto, may be deemed to beneficially own any shares of
Class A Common Stock as of March 2, 2004, other than as set forth herein.
(b) Each of Goldman Sachs and GS Group shares the power to vote
or direct the vote and to dispose or to direct the disposition of the
shares of Class A Common Stock beneficially owned by such Filing Persons as
indicated on pages 2 and 3 above.
(c) No transactions in the shares of Class A Common Stock were
effected by any of the Filing Persons or, to the knowledge of any of the
Filing Persons, any of the persons listed on Schedules I, II-A-i, II-A-ii,
II-B-i or II-B-ii hereto, since the most recent filing on Schedule 13D by
the Filing Persons relating to the Class A Common Stock.
(d) No other person is known by any Filing Person to have the
right to receive or the power to direct the receipt of dividends from, or
the proceeds from the sale of, any shares of Class A Common Stock
beneficially owned by any Filing Person.
(e) As of March 2, 2004, assuming consummation of the Offering on
such date, each of the Filing Persons will cease to beneficially own more
than five percent of the shares of Class A Common Stock outstanding.
Accordingly, this Amendment No. 5 is the final amendment to the Schedule
13D relating to the Class A Common Stock of the Company.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
--------------------------------
Item 7 is hereby amended to add the following at the end thereof:
Exhibit 99.13 Form of Underwriting Agreement, by and among Polo Ralph
Lauren Corporation, the several underwriters listed in
Schedule I thereto and the selling stockholders listed in
Schedule II thereto (incorporated herein by reference to
Exhibit 1.1 to the Company's Registration Statement on
Amendment No. 1 to Form S-3 No. 333-112730).
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Date: February 27, 2004
GOLDMAN, SACHS & CO. THE GOLDMAN SACHS GROUP, INC.
By: /s/ Roger S. Begelman By: /s/ Roger S. Begelman
--------------------- ---------------------
Name: Roger S. Begelman Name: Roger S. Begelman
Title: Attorney-in-fact Title: Attorney-in-fact
GS CAPITAL PARTNERS, L.P. GS ADVISORS, L.L.C.
By: /s/ Roger S. Begelman By: /s/ Roger S. Begelman
--------------------- ---------------------
Name: Roger S. Begelman Name: Roger S. Begelman
Title: Attorney-in-fact Title: Attorney-in-fact
STONE STREET FUND 1994, L.P. BRIDGE STREET FUND 1994, L.P.
By: /s/ Roger S. Begelman By: /s/ Roger S. Begelman
--------------------- ---------------------
Name: Roger S. Begelman Name: Roger S. Begelman
Title: Attorney-in-fact Title: Attorney-in-fact
STONE STREET 1994, L.L.C.
By: /s/ Roger S. Begelman
---------------------
Name: Roger S. Begelman
Title: Attorney-in-fact