New York–Ralph Lauren Corp. today announced that Stefan Larsson, one of the most successful executives in the fashion industry, has been named Chief Executive Officer.
His appointment will become effective in November, at which time he will also join the Ralph Lauren Corporation board. Larsson will report to Ralph Lauren, who will continue to actively drive the company’s vision and strategy as Executive Chairman/Chief Creative Officer.
Stefan Larsson most recently served as the Global President of Old Navy, a division of Gap Inc. Under his leadership, Old Navy enjoyed three consecutive years of profitable growth, adding $1 billion in sales. Previously, in 15 years at 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.
“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,” said Lauren. “Stefan and I have a strong personal bond and share a vision for the future of Ralph Lauren. I appreciate Stefan’s unique sensibility, his honesty and his authenticity. We have had tremendous success expanding the Ralph Lauren brands around the world and creating a great management team. 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.”
Stefan Larsson said: “I am thrilled to have the opportunity to work directly and collaboratively with a fashion giant like Ralph Lauren. His creativity and singular vision have made Ralph Lauren one of the world’s most influential global brands, and I share his dreams for the future. I believe the company has tremendous potential to continue expanding in the global marketplace as it broadens its appeal to all consumers.”
Positioned for Growth
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. In addition, Ralph Lauren Corp. has implemented a new global brand management organizational structure and expanded its omnichannel presence to reach new consumers. It has also made important investments in online, mobile and e-commerce to build on its track record of innovation and leadership in technology.
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.