Ralph Lauren Shares Continue Rally After Co. Names New CEO

30 Sep 2015 | Author: | No comments yet »

Gap Investors Worried About Old Navy Exec’s Departure.

Shares of Gap Inc. slumped Wednesday to a 52-week low following news that Stefan Larsson, president of Gap’s Old Navy business, is moving to Ralph Lauren Corp. .“This is important to say: There is no toe in the water…I won’t be coming in two days a week,” the 75-year-old told WWD, who is retaining his role as executive chairman and chief creative officer when his company’s new CEO Stefan Larsson, joins the company in November. His replacement is a Ralph Lauren outsider; Larsson spent 15 years at H&M in the senior management team before being appointed president of Gap-owned Old Navy in 2012, a mass-market chain in the US where he has helped build three years of consecutive growth.

Shares at Ralph Lauren have dropped by 22 per cent over the past three months, but the New York City-based company’s stock was up 12.93 per cent this morning, signalling that investors welcomed the appointment. Lauren, is there a particular place you’d like to sit?’ His response: ‘Wherever the light makes me look best.’” The article adds: “That’s Ralph. Lauren, who founded his business by selling wide ties to Bloomingdale’s in the late 1960s will still retain creative control. “I bet he stays on as creative director as long as he’s vertical,” commented Pat Cook, CEO of Cook & Co. to Bloomberg, adding: “No one can replicate his style.” Ralph Lauren faces competition from fast-fashion retailers, something which Larsson has plenty of insider knowledge on. And perhaps reassuringly, should Ralph Lauren chose to ‘go faster’, the brand’s signature preppy aesthetic is so core to the brand that it could most likely withstand any mass-exploitation. It should easily outlast him.” What’s certain is that when the time comes for Mr Lauren to step down completely, only he can take credit for creating a global brand that made him a billionaire and the polo-serving horse and its rider an instantly recognisable logo.

He didn’t grow up sketching clothes, and he didn’t go to fashion school. “I don’t know, from the time I was 12 years old I looked cool,” he explains. “My father was a painter, so maybe I got some sense of color from him. I do know that whatever I had on, other kids would say, ‘Hey, where’d you get that?’ “ Lauren saw that his suit business was stagnating. “I wanted something not Italian-looking, just more sophisticated.” He envisioned elegant hand-sewn garments cut from fine fabrics, then shaped closer to the body. Lauren wanted a tasteful look for someone with a well-toned body who isn’t shy about showing it off–himself, in other words. “I’ve tried to do things honorably in my business.

Jaffe also said that there is a deep bench of talent at Old Navy that should continue to drive sales and “can continue to flourish without Larsson.” Ms. I don’t downgrade children,” he says, getting in a parting dig at Calvin Klein. “I try to give people a clean, aspirational quality, with no bullshit. Jaffe kept his buy rating on the stock but said that “given the recent leadership changes and weakness at Gap brand, the investment has become more uncertain.” Cantor Fitzgerald’s Ms.

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