After his spring '16 fashion show on Sept. 17, iconic American designer Ralph Lauren was rewarded with a room full of applause as he walked the runway, waving to fans and hugging friends.
Onlookers had no idea this would be Lauren's final collection as the CEO of his eponymous fashion and lifestyle brand.
Ralph Lauren Corporation announced Tuesday the role has been passed to Stefan Larsson, effective November. Larsson comes to the company from Gap Inc. as the global president of Old Navy, where he played a strategic part in adding $1 billion in sales over three consecutive years. Prior to his position at Gap, Larsson was a key player in H&M's profit growth for 15 years.
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Larsson will still report to Ralph Lauren, 75, who will remain at his namesake company as executive chairman and chief creative officer.
In a press statement released to Mashable, Lauren said:
My job is to think always about the future of our company and how to move it forward. Stefan Larsson is exceptionally talented, and he will bring our company a fresh and exciting global perspective. Stefan and I have a strong personal bond and share a vision for the future of Ralph Lauren. I appreciate Stefan’s unique sensibility, his honesty and his authenticity. We have had tremendous success expanding the Ralph Lauren brands around the world and creating a great management team. Now, all the pieces are in place to position our business for continued growth. We have been a leader in our industry for nearly 50 years, and this is just the beginning.
Ralph Lauren Corporation includes 15 brands, including Club Monaco, Denim & Supply, American Living, Chaps and RLX. The reappointment is part of a business plan to propel all labels to growth and success.
“I am thrilled to have the opportunity to work directly and collaboratively with a fashion giant like Ralph Lauren," Larsson said in a statement. "His creativity and singular vision have made Ralph Lauren one of the world’s most influential global brands, and I share his dreams for the future. I believe the company has tremendous potential to continue expanding in the global marketplace as it broadens its appeal to all consumers."
The company also announced that President and Chief Operating Officer Jackwyn Nemerov will retire next month but will continue to contribute as an advisor.
Take a bow @RalphLauren for one of our *fave* #NYFW runways!: @Jessica_Pels #FashionFlock pic.twitter.com/AkFe9DizGG— Marie Claire (@marieclaire) September 17, 2015
While this month's catwalk might have been his last as CEO, it looks like it wasn't Ralph Lauren's final bow.