Connect with us

Hi, what are you looking for?

Jewish Business News

Leadership

Ralph Lauren, $6 Billion Designer, Steps Down As CEO Of Fashion House

 

Ralph Lauren, the Successful Jewish designer credited with creating the all-American student look, is stepping down as CEO of his eponymous fashion house.

Born in the Bronx to Russian immigrants. When he was only teenager, then Ralph Lifshitz, started a business in the Empire State Building, hand-making ties from a tiny office. His first breakthrough came when Neiman Marcus ordered 1, 200 of them.

Lauren is one of few fashion designers to make Forbes’ lists of richest people, with a net worth estimated at $6 billion. He’s the 74th wealthiest person in America, in Forbes 400 — down from #55 on last year’s list.

Other billionaires who’ve made their fortunes from fashion include Miuccia Prada and Giorgio Armani. Tory Burch Joint the group in 2013.

Ralph Lauren Polo Bar

 

Lauren’s fortune is largely derived from his 81.5% stake in Ralph Lauren Corp. He’s considered one of America’s greatest self-made entrepreneurs.

Lauren will remain chairman of the $7.5 billion (revenues) company.

His son David Lauren heads global advertising and marketing and recently joined the company’s board.

Stefan Larsson, one of the most successful executives in the fashion industry,  has been named Chief Executive Officer starting in November.

Stefan Larsson most recently served as the Global President of Old Navy, a division of Gap Inc. Under his leadership, Old Navy enjoyed three consecutive years of profitable growth, adding $1 billion in sales. Previously, in 15 years at Swedish retailer Hennes & Mauritz (H&M), Larsson was part of the team that grew sales from $3 billion to $17 billion and expanded the company’s operations from 12 to 44 countries.

 

 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

empty

The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

Business

Now Platika joins and elite club of $10 billion plus Israeli firms.

Advertisement
cialis