Ralph Lauren resigns as CEO of iconic fashion house← Back
About 2 Years, 2 Months, 2 Weeks, 2 Hours, 35 Minutes ago.
The Ralph Lauren company started out with the Polo label, eventually growing into the fashion empire that it is today. Most recently the eponymous fashion house threw open the doors on the Ralph Lauren Palazzo in Milan, a luxury service for private members in part of an attempt to focus more on the luxury market.
Lauren will be handing over the title of CEO to Stefan Larsson who has been global president of Gap’s Old Navy since 2012, previous to which he worked as a retail executive at H&M. Larrson will take on his new role at Ralph Lauren in November.
David Lauren, son of Ralph Lauren and current vice executive president had been tipped as a possible candidate. However, the appointment of someone from outside the company seems to have been spurred on by slowing financial results and the need for fresh input. Following the news that Larsson would be joining the company price of shares increased yesterday.
Although he is handing over the CEO reins, Ralph Lauren isn’t relinquishing all of his power: he will stay onboard as executive chairman and chief creative officer, and new recruit Larrson will report directly to him.
With the move marking a major change in the Ralph Lauren history, it’ll be interesting to see in which direction Larrson will take the brand.