Ralph Lauren. The closest most of us have come to him is via a polo shirt, or that time he stood with Rachel Green in the lift during that episode of Friends. And now, the figurehead of one of the world's most recognisable and iconic brand is losing its namesake.
According to WWD, the 75-year-old will stay on as executive chairman and chief creative officer, with Stefan Larsson (of Old Navy fame) taking over as Lauren as chief executive officer come November. Speaking with WWD, he effectively said once he's gone, he's gone: "This is important to say: There is no toe in the water. I love what I’m doing, I love the company... I won't be coming two days a week."
Speaking of his successor, Larsson, Ralph said: "Stefan brings something special. Stefan has the sensitivity of design and of building a business and growing companies. That’s rare in our business. Usually, it’s one or the other."
In addition to being president of Old Navy since 2012, he's also "proved a strong point within the troubled Gap Inc. umbrella, with three consecutive years of profitable growth, including $1 billion added in sales. Prior to that, he spent 15 years at H&M, part of the senior management team that exploded that business into a global power with significant fashion resonance at the mass level."
No pressure, Stefan. You got this!