Ralph Lauren taps veteran P&G exec as its new CEO

Ralph Lauren Corp. has named a 25-year Proctor & Gamble executive to head up its ongoing turnaround effort.



The company appointed Patrice Louvet as president and CEO, effective July 17, 2017. At the time, he will also be appointed to the board. Louvet will dual report to founder Ralph Lauren in his capacity as executive chairman and to the company’s board.



Since February 2015, Louvet has served as P&G’s group president, global beauty, a division of 12 brands with approximately $11.5 billion in revenues in 2016. Prior to that, he was group president, global grooming (Gillette). He also previously served as president of P&G’s global prestige business where he oversaw a diverse portfolio of 23 fashion brands, including Gucci and Hugo Boss.



Ralph Lauren in February announced that president and chief executive Stefan Larsson would be leaving the company, reportedly over differences with Ralph over the direction of the company. Larsson, a former Gap and H&M executive, was challenged with overhauling the ailing Ralph Lauren empire. He worked to streamline the business, closing unprofitable stores and moving it to more of a faster business and design model.



“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,’ Lauren said. 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.”