Retail

David Lauren Steps Up To Head Innovation At Ralph Lauren

David Lauren — son of company founder and namesake Ralph Lauren — will be promoted to the newly created position of chief innovation officer, according to a recent filing with the SEC. Lauren has been one of the primary movers and shakers within Ralph Lauren Media’a eCommerce operations and was responsible for the launch of the Polo.com site a decade ago.

In the announcement of the promotion, Ralph Lauren corporate noted that Lauren “has been instrumental in growing the company’s global eCommerce business and building the company’s global fashion image as it has expanded internationally.”

Lauren has been involved with Ralph Lauren Media’s eCommerce business for the last 10 years. His most recent post has been as executive vice president of marketing and communications.

Lauren walks into a growing eCommerce focus with the high-fashion firm, as online sales were up to $890 million, about 14.1 percent from the $780 million it brought in in 2014. In its 10-K filing with the SEC, Ralph Lauren Media wrote that it expects to roll out a new global eCommerce platform built in-house within the next two years.

As of now, Ralph Lauren only has one dedicated eCommerce distribution center and call center in North Carolina, though experts anticipate that this figure will grow.

Ralph Lauren does not break out eCommerce in its earnings reports; however, it reported an eCommerce comparable store sales gain of 2 percent in fiscal 2016. That is a better performance than its physical locations. Comparable store sales, excluding eCommerce, saw a 8–9 percent decline year over year.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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