As a member of Ralph Lauren’s board of directors, Ralph Lauren has named Patrice Louvet as its new President and CEO, who will take over in overseeing its ongoing turnaround strategy starting July 17.
Having served as the Group President of Global Beauty at Procter & Gamble since February 2015, Louvet is expected to report directly to the Executive Chairman and Chief Creative Officer — Ralph Lauren himself.
Ralph Lauren said in a statement: “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 and I am thrilled that Patrice is joining our talented team — He’s an enormously skilled business leader with a deep passion for the consumer and a sophisticated understanding of building global brands. This, combined with his collaborative working style, transformation experience and intense focus on results, will put us in a stronger position as we move toward the future.”
Patrice Louvet will succeed Stefan Larsson, who left the company on May 1, following disagreements with Lauren over its turnaround strategy, and hopes to transition the brand into a more positive direction following the closure of 50 stores (including the Fifth Avenue Polo flagship), and the loss of a reported 1,000 jobs, according to Business of Fashion.
In other fashion news, check out MR PORTER’s exclusive Gucci collection.
- Source: Business Of Fashion