Fashion
Ralph Lauren Won’t Let Go of His Shrinking Polo Empire
Discounted polos aren’t selling and the company needs new ideas. But Mr. Lauren is tightening his grip.
A Ralph Lauren store in New York.
Photographer: Michael Nagle/Bloomberg
The first time fashion designer Ralph Lauren tried sharing control of his retail empire ended badly. The new CEO left after only 18 months. Creative clashes, they both acknowledged.
Now the 77-year-old Lauren is making another bet on an outsider to help revitalize the company he founded a half-century ago. Patrice Louvet, a former Procter & Gamble Co. veteran, started as CEO in July amid promises of an amicable working arrangement.