Ralph Lauren promotes Valerie Hermann to Global President, Luxury
Ralph Lauren CEO Stefan Larsson is making numerous changes to the company’s management team, according to the American press. The most notable change is the promotion of Valerie Hermann to the expanded role of Global Brand President for Luxury, Women’s Collections and World of Accessories. In addition, many executives will part ways with the company this month.
In her new position, Hermann will oversee all luxury brands, as well as Polo women’s, Lauren, Chaps, Denim & Supply, men’s and women’s footwear, accessories and denim. She will continue to report directly to Stefan Larsson.
Hermann joined the company in 2014 and previously served as President of Luxury Collections. Prior to Ralph Lauren, she served as CEO of Yves Saint Laurent and President and CEO of Reed Krakoff.
In addition to Hermann’s promotion, Christine Beauchamp, Global Brand President for Lauren, Chaps, American Living and Ralph, will part ways in mid-May citing personal reasons, and Kim Roy, Group President of Wholesale, North America, has left the company. Beauchamp joined the company in September 2015, and Roy joined in 2003 as President of Lauren Brands.
Earlier this year, Maureen Grey and Christopher Peterson parted ways with the company. Gray retired as Vice President of International Trade and Peterson had his position eliminated from the company. The company did not replace Gray as VP of International Trade.
Ralph Lauren in February reported its third quarter results, which was less than stellar. Net revenue decreased to $1.95 billion and missed expectations and total sales fell 7% due to unseasonably warm weather and “"challenges with the product assortment”. The company now expects its revenue to fall by 3% for the year ending April 2017.
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