“[T]he quintessential American designer who built a fashion empire based on sweeping fantasies of country-club prep and the Wild West is stepping down from his post as chief executive of the company,” reports The New York Times.
Ralph Lauren has named Stefan Larsson as his successor. Says the Times, Larsson is “a former H&M executive and president of Old Navy, Gap’s down-market brand, which Mr. Larsson is credited with reviving. Old Navy has consistently been one of the few bright spots in Gap’s brand portfolio since Mr. Larsson, who is Swedish, took over in 2012, making him one of the most visible executives in retail.”
The story adds: “Mr. Lauren said that he intended to remain active at the company he founded in new roles as executive chairman and chief creative officer. Mr. Larsson will report to Mr. Lauren, though the 75-year-old American designer characterized their relationship as a ‘partnership.’”
The Times also notes: “It is the coming end of a golden era of American postwar designers: [Donna] Karan stepped down from the helm of the house that bears her name earlier this year; [Calvin] Klein stepped away from his namesake company in 2002.”