The search for a successor to Stefan Larsson at Ralph Lauren has come to an end.
Patrice Louvet has been chosen as the brand’s new chief executive officer. Formerly, Louvet served as group president of global beauty at Proctor & Gamble with just short of thirty years experience with the company.
He will report to executive chairman and founder, Ralph Lauren, who released a statement on Wednesday regarding the recent hiring.
“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,” stated Lauren.
Louvet’s hiring comes on the heels of former CEO Stefan Larsson’s exit, reportedly due to discrepancies Lauren regarding numerous areas of the company’s creative direction. The consensus surrounds Lauren, who Larsson allegedly believed would be transitioning into a smaller role within the brand.
That never came to fruition, though the founder has made it clear that he will remain a large part of the company’s operations. Lauren also gave credit to Louvet’s “collaborative working style,” leading to the belief that he won’t be stepping aside from his name brand any time soon.
That may not be necessary either, as he commented on the issue in an exclusive interview with WWD.
“It’s not [me] stepping away,” stated Lauren. “I want to bring in someone who could help me. It’s a big company. It’s $7 billion.”
Patrice Louvet will join the company’s board of directors in addition to his new role with Ralph Lauren effective July 17th.