FASHION NEWS: RALPH LAUREN STEPS DOWN AS CEO
It is hard to think of Ralph Lauren as anyone but the head of his namesake company; according to Bloomberg Business, Ralph has decided to pass that title to Stefan Larsson. Naturally the newly appointed CEO has a history of working with other fashion giants like: H&M; and Old Navy, where he was global president.
Although still a household name in the industry, the Ralph Lauren empire has not expanded. Shares have dropped up to 44 percent before the Tuesday announcement of the new appointment. Bloomberg states that “comparable sales fell 2 percent last quarter, worse than analysts had anticipated” causing shareholder panic, which led to a call for change.
The man capable of that sales change is a man who is completely caught up in retail knowledge. Larsson works extensively in trendsetting, and even has been credited to reviving Old Navy. Even with Ralph Lauren stepping down as the CEO, he will still be calling the shots for Larsson will still report to the founder-turned-creative. After all, no one knows the Americana polo cowboy image more than the mind that trended it.
Photo of a young Ralph Lauren from Business Insider.by