Retail

Ralph Lauren Hires New CEO Via P&G Veteran

Hastings, Ralph Lauren Struggle

It's been a rough past couple of months for the clothing retail brand Ralph Lauren.

As we've reported recently, the retailer fired its CEO back in February and shut down its flagship 5th Avenue store just last month.

To help turn itself around, Ralph Lauren has selected 25 year Proctor & Gamble (P&G) veteran Patrice Louvet as its new CEO. Louvet will report to the founder Ralph Lauren as well as the company's board. In his tenure at P&G, Louvet has served as group president of its global beauty division and group president of Gillette's global grooming practice. In addition to this, he also worked as president of P&G's global prestige business where he oversaw 23 fashion brands.

Ralph Lauren himself commented on the hiring of Louvet and highlighted the importance of finding the right fit for the brand.

He said "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. He's an enormously skilled business leader with a deep passion for the consumer and a sophisticated understanding of building global brands. This, combined with his collaborative working style, transformation experience and intense focus on results, will put us in a stronger position as we move toward the future."

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