Stefan Larsson, the global president of the Gap-owned budget chain Old Navy, will take over from Mr Lauren in November, according to Ralph Lauren. Mr Lauren will not, however, be entirely handing over the reigns to Ms Larsson, and will continue to drive the company’s vision and strategy as executive chairman and chief creative officer. His role at Ralph Lauren comes after a 15-year stint at cheap-chic fashion chain H&M. There, he oversaw an increase in annual revenue from $3 billion to $17 billion, and a steep rise in store locations from 12 countries to 44. In a statement released on Tuesday, Mr Lauren hailed his successor as “exceptionally talented.” “My job is to think always about the future of our company and how to move it forward,” said Mr Lauren. “Stefan Larsson is exceptionally talented, and he will bring our company a fresh and exciting global perspective.” Speaking later in his Manhattan office, the designer stressed that he is not slowing down, but rather that Mr Larsson will spearhead future sales growth as a partner. “I am here, and I am not leaving,” said Mr Lauren. “Stefan is coming to the company because I really believe he's going to be an interesting addition.” Check out some of Ralph Lauren polo shirts on www.obeezi.com
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