Can this CEO save Ralph Lauren?
“Patrice Louvet has great enthusiasm and deep business understanding for building a global brand, plus a positive working style, a transformation experience and a strong focus on results, bringing us together.” Ralph Lauren on the 52-year-old France The person is obviously very satisfied, in addition to appointing him as the CEO, he also attached the position of company president. However, Ralph Lauren, who is full of white hair, has not thought about decentralization. He will continue to serve as executive chairman and chief creative officer of the company. Just like at the end of 2015, when the brand decided to set up a CEO position, his original intention was not to change, but to find someone to help themselves, let this company with a market value of 700 million US dollars smoothly transform. After all, Ralph Lauren's share price evaporates 37% in 2015. In June 2016, Stefan Larsson, then CEO, announced the company's “advance” plan, including cutting back the core business, implementing layoffs, and closing stores. Just last month, the brand's Polo store on Fifth Avenue in New York officially closed. However, this road to transformation is not easy to go - due to the disagreement between the founder Stefan Larsson and Ralph Lauren, he was not in charge for 16 months.