Ralph Lauren Corporation has announced that Stefan Larsson, ex-global president at Old Navy will be stepping into the Chief Executive’s role at Ralph Lauren. His appointment will be effective from November, when he will also join the Ralph Lauren Corporation board. Larsson will report to Ralph Lauren, who has resigned from the CEO’s position but will continue to drive the company’s vision and strategy as Executive Chairman and Chief Creative Officer.
Under Larsson’s leadership, Old Navy enjoyed three consecutive years of profitable growth, adding $1 billion in sales. Previously, in 15 years at Swedish retailer Hennes & Mauritz (H&M), Larsson was part of the team that grew sales from $3 billion to $17 billion and expanded the company’s operations from 12 to 44 countries.
Commenting on the Larsson’s appointment, Ralph Lauren said, “My job is to think always about the future of our company and how to move it forward. Stefan Larsson is exceptionally talented, and he will bring our company a fresh and exciting global perspective. Stefan and I have a strong personal bond and share a vision for the future of Ralph Lauren. Now, all the pieces are in place to position our business for continued growth. We have been a leader in our industry for nearly 50 years, and this is just the beginning.”
This announcement follows a number of steps the company has taken in recent years to continue to strengthen its industry leadership, reach new consumers and drive the continued growth of Ralph Lauren Corporation, which last year generated $7.5 billion in sales. In just the past two years, the company continued to significantly expand its luxury business and added three new brands to its portfolio – Polo for Women, Polo Sport, and Denim and Supply.
The company also announced that Jackwyn Nemerov, President and Chief Operating Officer, will retire in November, at which time she will become an advisor to the company. Chris Peterson, President of Global Brands, and Valerie Hermann, President of Luxury Collections, will continue in their current roles reporting to Stefan Larsson.
The company’s brand names, which include Polo Ralph Lauren, Ralph Lauren Purple Label, Ralph Lauren Collection, Black Label, Lauren by Ralph Lauren, Double RL, RLX, Ralph Lauren Childrenswear, Denim & Supply Ralph Lauren, American Living, Chaps and Club Monaco, constitute one of the world’s most widely recognized families of consumer brands.