Plans call for Louvet to take the reins as Ralph Lauren’s CEO on July 17. At that time, he also will join the company’s board of directors. He will report to executive chairman Ralph Lauren as well as to the board.
“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,” Louvet said in a statement. “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.”
Described by Ralph Lauren Corp. as a “brand expert,” Louvet spent more than 25 years at P&G, most recently serving as group president of global beauty since February 2015. The P&G division encompassed 12 brands and generated about $11.5 billion in sales last year.
Ralph Lauren Corp. noted that Louvet has overseen several multibillion dollar, category-leading brands and has held a range of management and leadership roles in Europe, Asia and North America. He also has a track record of improving and growing major global brands and optimizing business units and diverse experience working across distribution channels, including e-commerce, wholesale and directly operated retail, the company said.
Before becoming global beauty president at P&G, Louvet served as president of the company’s global prestige business, where he oversaw a 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,” stated Lauren, who’s also 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 Lauren Corp. designs, markets and distributes premium lifestyle products in the apparel, home, accessories and fragrance categories. Its roster of brands includes the Ralph Lauren Purple Label, the Ralph Lauren Collection, Double RL, Polo Ralph Lauren, Polo Ralph Lauren Children’s, Ralph Lauren Home, Lauren Ralph Lauren, RLX, American Living, Chaps and Club Monaco.