Behind the All-American Ralph Lauren Brand Is a French C.E.O.

Résumé détaillé

Patrice Louvet on working with Ralph Lauren, the man, winning over Generation Z and striking a balance between magic and logic.

But when Patrice Louvet took over as chief executive in 2017, the company was at a low point. His predecessor, the first chief of the firm not named Ralph Lauren, stepped down after a little more than a year amid creative clashes with the eponymous founder.

Mr. Louvet, 62, was an unexpected choice. Born in France, he served in the French Navy and spent nearly 30 years at Procter & Gamble, known for selling razors and shampoo, not polo shirts and knit sweaters.

Under his leadership, the brand started relying less on heavy discounting and pulled out of lower-tier stores. Its preppy look is once again popular with young people. Reservations are essential at its packed restaurants, and at the coffee shops, the lines are long. The company’s share price has risen more than 400 percent since Mr. Louvet took the top job.

Last fiscal year, Ralph Lauren brought in $8.1 billion in revenue, a 14 percent increase. It recently raised its forecast for sales and profit margins for the current year, ahead of the holiday shopping season.

Like other retailers, Ralph Lauren must try to remain relevant as trends shift rapidly and politics increasingly intrudes on culture. The company has many stakeholders, but the Lauren family controls more than 80 percent of the vote among shareholders.

Mr. Louvet has picked up many lessons from Mr. Lauren, 87, who is chief creative officer and executive chairman, that have helped guide him on where to take the brand next.

Début de l'article, extrait de DealBook (The New York Times). Pour lire la suite, ouvrez l'article chez le média.