Ralph Lauren Names New CEO
Ralph Lauren has named a new CEO. Patrice Louvet, formerly with Procter & Gamble for more than 25 years, will take over the recent void left by Stefan Larsson, who abruptly left after disagreements over creative decisions with company founder Ralph Lauren. Bloomberg reports Ralph Lauren signaled that Louvet's tenure may have a cooperative spirit, praising Louvets "collaborative working style" on Wednesday. “Finding the right partner to work with me to take us forward in our evolution has been my primary focus over the last several months,” Lauren said in a statement to Bloomberg. Louvet previously oversaw P&G’s Gillette lineup and its prestige division, which included fashion brands such as Gucci and Hugo Boss.
Total Retail's Take: It will be interesting to see the direction Louvet will take Ralph Lauren in. His predecessor changed up Ralph Lauren drastically in the year-plus he was CEO. In addition to changing management ranks, Larsson cut jobs and shuttered stores. With a background in fast fashion, working at the likes of H&M and Old Navy, Larsson implemented many changes to help respond to quick changing fashion trends. However, Ralph Lauren has spent its time trying to create more classic designs, and turned out wasn't the right fit for Larsson. It appears Louvet will be more open to collaborating with the company namesake than Larsson was.