Ralph Lauren Corporation has announced that Patrice Louvet, one of the most successful executives in the consumer products industry, has been named president and chief executive officer. His appointment will become effective July 17, at which time he will also be appointed to the Ralph Lauren Corporation Board of Directors. Louvet will dual report to Ralph Lauren in his capacity as executive chairman of the Board and to the company’s Board of Directors.
He replaces out-going president and CEO Stefan Larsson who announced he would be leaving the company, after only six months at the helm, earlier this year.
Louvet takes the reins with a proven track record of improving and growing major global brands and streamlining and refocusing business units, as well as diverse experience working across multiple distribution channels inclusive of e-commerce, wholesale and directly-operated retail. He most recently served as group president of Global Beauty at Procter & Gamble (P&G), a division of 12 brands with approximately $11.5 billion in revenues in 2016.
Prior to his current role at P&G, which he has served in since February 2015, Louvet was group president of 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. He currently serves on the board of directors of Bacardi Limited, which he joined in July 2012.
“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,” said Ralph Lauren, executive chairman and chief creative officer. “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.”
“Ralph is one of the world’s greatest fashion icons and someone I have admired for many years, and it’s an incredible opportunity to partner with him to continue to build on 50 years of heritage and innovation,” added Louvet. “The brand holds tremendous potential around the world and I could not be more excited to lead the next phase of development for this great company with Ralph and the team.”