RALPH LAUREN STEPS DOWN AS CEO; MEET THE NEW CHIEF EXECUTIVE
Designer Ralph Lauren, who pioneered a luxury lifestyle look, has stepped down as chief executive of the fashion company he founded nearly 50 years ago.
Mr Lauren has given the role to Stefan Larsson, the president of the Gap-owned budget chain, Old Navy. Mr Larsson will report to the designer who will continue to oversee the company’s creative look and strategy.
The iconic company has been struggling to boost profits as a stronger dollar reduces the value of sales from outside the US. Mr Larsson is credited with reviving sales at Old Navy, where he offered the latest styles at low prices.
Mr Lauren, who will turn 76 in October, said Mr Larsson would be in charge of growing future sales.
Speaking of his replacement, Mr Lauren said: “He understands what dreams are. In this business, it’s about dreams because you are dreaming ahead and you’re about progress and change and newness.”
BEBEAKINBOADE is the fresh voice of African style, offering an informative, inspiring and entertaining mix of fashion,beauty ,entertainment,events ,place, inspirational and much more
Latest posts by bebeakinboade (see all)
- HOW TO DRESS LIKE PARISIAN WOMEN: ACHIEVING EFFORTLESS CHIC - August 14, 2024
- THE BRAVE ADVENTURE OF JOSH THE GREAT: A FAITH-FILLED JOURNEY OF COURAGE AND FORGIVENESS - August 14, 2024
- FASHION AND BEAUTY ICONS FROM AROUND THE WORLD - July 28, 2024
