Ralph Lauren has yet to solve the puzzle of how to move the brand forward amidst financial troubles. In 2015, founder Ralph Lauren stepped down as CEO after 50 years at the helm, handing over leadership of the company to incoming CEO Stefan Larsson, who had previously worked at Old Navy and fast-fashion giant H&M. And now, after just over a year of steering the ship, Larsson is out.
"Stefan and I share a love and respect for the DNA of this great brand," Ralph Lauren, who is still chairman and chief creative officer, said in a statement. "However, we have found that we have different views on how to evolve the creative and consumer-facing parts of the business."
Larsson will stay on until 1 May as a search for a new CEO begins. As to what those different views were, no one is saying. Although given Larsson's past in fast fashion, it's hard not to speculate as to how that rupture might have occurred. Is it possible that one side wanted to focus on the luxury aspect of the business while the other wanted to move more mass market? Can't say for sure, but it's hardly an unlikely scenario.
It's been a tough road for the iconic brand, which has seen slumping sales over the past few years, and has a new headache on its hands thanks to a recent call to boycott the company's products after dressing Melania Trump for the inauguration.
So, yes, it looks like stiff winds ahead for the house that Ralph built. But our fingers are crossed that someone will figure it out. It's almost impossible to imagine American fashion without Ralph Lauren as a major player.
