princeton water polo camp Big changes are ahead at Ralph Lauren
On Tuesday, chief executive Stefan Larsson a new hire who joined the retailer after turning Old Navy into a clothing powerhouse unveiled to investors his sweeping plan for fixing the business. Larsson’s strategy calls for shakeups in virtually every corner of the nearly 50 year old company: There are plans to shutter 50 underperforming stores, or about 10 percent of the fleet. The business will be restructured to save up to $220 million in annualized costs, and about 1,000 jobs will be eliminated.
Larsson took the chief executive job late last year from the brand’s namesake, Ralph Lauren, the designer who continues to work at the company as its creative leader and chairman. Larsson came from Gap,
where he had served as president of its Old Navy chain and was widely credited for spiffing up that brand by making it more fashion forward, bringing to the clothing empire some of the production know how he developed during an earlier stint as an executive at fast fashion behemoth H bizpage, ralph lauren, ralph lauren new strategy, stefan larsson, stefan larsson ralph lauren, retail