Today marks the moment in time where one of America's most recognizable luxury fashion staples looses their lead man. Ralph Lauren has officially stepped down from his own brand (Polo) as CEO of the company.
“When they start designing things I can’t understand, I’ll quit,” said Lauren. “But I don’t feel like I’m stepping back now.”
"Earnings" is also another reason as Stefan Larsson — a former H&M executive and the man largely responsible for the revival of Gap subsidiary Old Navy - plans to step in to improve the amount of money being brought in to the brand. The yearly annual revenue has dipped 5.3% as share prices have been slashed nearly in half.
It seems that it's more than just conflict in "style" that's the issue in this case.
Source:THE NEW YORK TIMES