“Stefan and I share a love and respect for the DNA of this great brand, and we both recognise the need to evolve,” Ralph Lauren – the company’s founder, executive chairman and chief creative officer – said in a statement today. “However, we have found that we have different views on how to evolve the creative and consumer-facing parts of the business. After many conversations with one another, and our board of directors, we have agreed to part ways. I am grateful for what Stefan has contributed during his time with us, setting us in the right direction.”
The company’s net revenues were down by 12 per cent in the last quarter against last year, the Business of Fashion noted today as the announcement was made, but Lauren insists he plans to focus on the next chapter by following the strategy laid out by Larsson.
“We have built a strong foundation for future growth, including strengthening our team, refocusing our brands, evolving our products and our marketing, improving our operations and reducing our costs,” Lauren went on. “The board and I are committed to the execution of the 'Way Forward Plan' and continuing to move our business and iconic brand forward as we have done for the last 50 years.”
“I am proud of the progress the whole team has made and I am committed to ensuring its uninterrupted execution,” Larsson said. “Ralph will always be an inspiration to me, and I am grateful to have had this experience.”
The company’s net revenues were down by 12 per cent in the last quarter against last year, the Business of Fashion noted today as the announcement was made, but Lauren insists he plans to focus on the next chapter by following the strategy laid out by Larsson.
“We have built a strong foundation for future growth, including strengthening our team, refocusing our brands, evolving our products and our marketing, improving our operations and reducing our costs,” Lauren went on. “The board and I are committed to the execution of the 'Way Forward Plan' and continuing to move our business and iconic brand forward as we have done for the last 50 years.”
“I am proud of the progress the whole team has made and I am committed to ensuring its uninterrupted execution,” Larsson said. “Ralph will always be an inspiration to me, and I am grateful to have had this experience.”
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