According to this post by Dylan Stableford, Ralph Lauren is building such a powerful media presence online that he questions their future need for traditional print advertising:
His presentation, though, should give publishers pause, too. If an advertiser is so ahead of the game online, and as print fades, why should they care about your Web site?
Very good question. If a retailer develops their own audience online with content, why would they need to advertise to the extent they had in the past?
C. David Gammel, CAE 
Be very careful about eliminating your visibility in one or more venues. Ideally, you should be promoted everywhere – print, online, embedded in others’ marketing, etc. Many people who make online purchases, for example, first saw the product in a store or a print promotion. Each exposure reinforces the others.
Great comment, David, and I agree with you.
What struck me about Ralph Lauren as described in the post is that they have embarked on a strategy of publishing their own content of value to their customers, building their own audience. The potential power of advertising to a self-selected audience like this via their own online media property is pretty high.
I’m sure they will continue their other advertising efforts but creating their own channel gives them a new option and an alternative as the traditional print media continues to go through a major shakeout.