Stefan Larsson (businessman)

Last updated
Stefan Larsson
Stefan Larsson 2014.jpg
Larsson in 2014
Born1974or1975(age 48–49) [1]
NationalitySwedish and American
Education Hanken School of Economics
Jönköping International Business School
OccupationBusiness executive

Stefan Larsson (born 1974) is an American fashion industry executive. Since 2021 he has served as the chief executive officer of PVH Corporation. [2] Before joining PVH he was the chief executive officer of the Ralph Lauren Corporation, global president of Old Navy, and part of H&M management for nearly 15 years. [3] [4]

Contents

Early life and education

Born in 1974, [1] Larsson earned an MBA jointly from the Hanken School of Economics in Finland and Jönköping International Business School in Sweden. [1]

Career

Hennes & Mauritz

Larsson joined the Swedish fashion company Hennes & Mauritz (H&M) in 1998 after having completed his studies and stayed with the retailer for nearly 15 years, rising to the position of Head of Global Sales "with functional responsibility for about 2,300 stores and nearly all of its $17 billion in annual sales." [3] [1] During that time, he was part of the executive team that increased annual revenues from $3 billion to $17 billion and expanded its operations from 12 to 44 countries. He also oversaw real estate, store design and construction. [5]

Old Navy

Larsson served as global president of Old Navy, part of The Gap's portfolio, from October 2012 to September 2015. In April 2012, Gap Inc. sponsored a U.S. work and residence permit for Larsson and his immediate family. In addition to a $350,000 sign-on bonus, his initial salary was $1 mio.[ clarification needed ] per year plus annual bonus and stock options/awards. [6] Larrson transformed Old Navy into Gap Inc.'s top performing business unit, achieving three consecutive years of profitable growth and better sales revenues than Banana Republic and Gap. [7] By offering fashionable clothing at low prices and overhauling its global supply chain to increase speed to market, Larsson increased Old Navy's revenue by nearly $1 billion. [8] [9]

Ralph Lauren

In September 2015, it was announced that Stefan Larsson would replace the company's founder, Ralph Lauren, as CEO in November. Lauren stayed on as executive chairman and chief creative officer. [3] [10]

The company and Stefan Larsson mutually agreed to part ways after Ralph Lauren stated they found themselves having different views on how to evolve the creative and consumer-facing parts of the business. [11]

In February 2017, it was announced that Larsson had agreed to leave his position as CEO effective May 2017 due to differences with Lauren. [12] On the day of Larsson's departure, the company's share price fell by 12%. [13] He was replaced by Patrice Louvet. [14]

PVH Corporation

In June 2019 Larsson became president of PVH Corporation. [15] Larsson oversees all of PVH's brands and regions, including Calvin Klein and Tommy Hilfiger. [16] On February 1, 2021, PVH officially appointed Stefan Larsson as chief executive officer and he joined its board of directors. [17]

The RealReal Inc.

Larsson served on the board of directors for the RealReal Inc, a resell platform for luxury goods which went public on Nasdaq in June 2019. [18]

Related Research Articles

<span class="mw-page-title-main">Old Navy</span> American clothing and accessories retailer owned by Gap Inc

Old Navy is an American clothing and accessories retailing company owned by multinational corporation Gap Inc. It has corporate operations in the Mission Bay neighborhood of San Francisco, California. The largest of the Old Navy stores are its flagship stores, located in New York City, Seattle, Chicago, San Francisco, Manila, and Mexico City.

<span class="mw-page-title-main">Ralph Lauren</span> American fashion designer and executive (born 1939)

Ralph Lauren is an American fashion designer, philanthropist, and billionaire businessman, best known for founding the brand Ralph Lauren, a global multibillion-dollar enterprise. He has become well known for his collection of rare automobiles, some of which have been displayed in museum exhibits. He stepped down as CEO of the company in September 2015 but remains executive chairman and chief creative officer. As of April 2024, his net worth was estimated at US$8.8 billion.

<span class="mw-page-title-main">J.Crew</span> American retail company

J.Crew Group, Inc., is an American multi-brand, multi-channel, specialty retailer. The company offers an assortment of women's, men's, and children's apparel and accessories, including swimwear, outerwear, lounge-wear, bags, sweaters, denim, dresses, suiting, jewelry, and shoes.

<span class="mw-page-title-main">B. Kevin Turner</span> American businessman and investor (born 1965)

B. Kevin Turner is an American businessman and investor who is the chairman of Zayo Group and the vice chairman of Albertsons/Safeway Inc.

Maggie Wilderotter is an American businessperson who is the chairwoman of DocuSign, where she was also interim CEO from April to October 2022, and the former chief executive officer of Frontier Communications from November 2004 to April 2015, then executive chairman of the company until April 2016.

<span class="mw-page-title-main">Calvin Klein (fashion house)</span> Fashion by the Americans

Calvin Klein Inc. is an American luxury fashion designer markets its eponymously branded products worldwide. The company, which became famous for its designer underwear and denim lines in the 1980s, specializes in mass-market ready-to-wear clothing for all genders and age groups as well as leather products, lifestyle accessories and shoes, home furnishings, perfume/cosmetics, eyewear, jewelry and watches in the mid-price segment. Its high-end runway fashion division, which represented the top level of the various Calvin Klein sub-brands, was discontinued in 2019.

<span class="mw-page-title-main">Angela Ahrendts</span> American-British businesswoman (born 1960)

Dame Angela Jean Ahrendts, is an American-British businesswoman who was previously the senior vice president of retail at Apple Inc. She was the CEO of Burberry from 2006 to 2014. She left Burberry to join Apple in 2014. She was ranked 25th in Forbes' 2015 list of the most powerful women in the world, 9th most powerful woman in the U.K. in the BBC Radio 4 Woman's Hour 100 Power List, and 29th in Fortune's 2014 list of the world's most powerful women in business. She was also a member of the UK's Prime Minister's business advisory council until it was disbanded in 2016.

Christine Beauchamp is an American businesswoman and fashion professional.

<span class="mw-page-title-main">David Lauren</span> American businessman (born 1971)

David Lauren is an American businessman. He is the middle child and younger son of clothing designer Ralph Lauren, and he is married to Lauren Bush.

Tommy Hilfiger B.V., formerly known as Tommy Hilfiger Corporation and Tommy Hilfiger Inc., is an American clothing brand that manufactures apparel and licensed products such as footwear, accessories, fragrances and home furnishings. The company was founded in 1985, and the brand's merchandise is sold in department stores and over 2000 free-standing retail stores in 100 countries. In 2006, private equity firm Apax Partners acquired the company for approximately $1.6 billion. In March 2010, PVH Corp. bought the company. Daniel Grieder was appointed CEO in July 2014, while founder Tommy Hilfiger remains the company's principal designer, leading the design teams and overseeing the entire creative process. Global sales in retail through the brand were US$9.1 billion in 2022.

<span class="mw-page-title-main">Ralph Lauren Corporation</span> American fashion company

Ralph Lauren Corporation, the legal name of the Ralph Lauren brand, is an American publicly traded fashion company that was founded in 1967 by American fashion designer Ralph Lauren. Headquartered in New York City, the company produces products ranging from the mid-range to the luxury segments. Ralph Lauren is known for marketing and distributing products in four categories: apparel, home, accessories, and fragrances. Known mostly for its flagship brand Polo Ralph Lauren, the company's brands include mid-range, sub-premium, and premium labels up to its highest priced luxury Ralph Lauren Purple Label apparel.

<span class="mw-page-title-main">Mindy Grossman</span> American businesswoman

Mindy Grossman is the former CEO of WW International. Her earlier career included executive roles at Ralph Lauren Corporation and Nike, and she was also CEO of HSN from 2006 - 2017. She has been listed on Financial Times's list of the Top 50 Women In World Business, and was ranked among Forbes' 100 Most Powerful Women In The World, as well as in Fortune's Top People in Business.

<span class="mw-page-title-main">Gap Inc.</span> American multinational clothing and accessories retailer

The Gap, Inc., commonly known as Gap Inc. or Gap, is an American worldwide clothing and accessories retailer. Gap was founded in 1969 by Donald Fisher and Doris F. Fisher and is headquartered in San Francisco, California. The company operates four primary divisions: Gap, Banana Republic, Old Navy, and Athleta. Gap Inc. is the largest specialty retailer in the United States, and is 3rd in total international locations, behind Inditex Group and H&M. As of early 2023, Gap employs about 95,000 people.

Emanuel "Manny"Chirico is a business leader in the retail and apparel industry. Having been with the PVH Corp for 20 years, Chirico served as chief executive officer for the company from 2006, as well as chairman from 2007. He resigned from his position as Chief Executive Officer in February 2021. He retired in December 2021.

Jenny Ming is a retail fashion industry executive who served as the president and chief executive officer of Charlotte Russe Holding Inc. from 2009 to 2019. From 1999 to 2006, Ming was president of Old Navy, a $6.7 billion business segment of Gap Inc., where she oversaw all aspects of Old Navy and its 900 retail clothing stores in the United States and Canada.

Patrice Louvet is a French American business executive. The CEO and president of the Ralph Lauren Corporation since July 17, 2017, he began his career at Procter & Gamble (P&G) in 1989, where he held numerous executive roles across Northeast Asia, North America and Europe. In 2015 he became group president of P&G's global beauty and hair care units, a role he held until June 30, 2017. He currently serves on the board of Bacardi Limited.

<span class="mw-page-title-main">Coach New York</span> American fashion house

Coach New York, commonly known as Coach, is an American luxury fashion house specializing in leather handbags, luggage, and accessories, as well as ready-to-wear. Coach licenses its name and branding to Luxottica for eyewear and Paris-based Interparfums for fragrances. Stuart Vevers has been the executive creative director since June of 2013.

Daniel Lalonde is a Canadian businessperson known for heading brands such as Louis Vuitton, Ralph Lauren, SMCP Group, Nespresso and Moët & Chandon. After starting his management career with companies such as Häagen-Dazs and Nespresso, he spent ten years at LVMH as president and CEO of LVMH Watches & Jewelry North America, Louis Vuitton in North America, and Moët & Chandon globally. After eight years as CEO of SMCP Group, he was named CEO of Design Holding.

<span class="mw-page-title-main">Sonia Syngal</span> American-Canadian businessperson

Sonia Syngal is an American businesswoman who formerly served as the chief executive officer (CEO) of Gap, Inc., the largest specialty apparel company in the U.S.

<span class="mw-page-title-main">Telus Corporation</span> Canadian multinational corporation

Telus Corporation is a Canadian publicly traded holding company and conglomerate, headquartered in Vancouver, British Columbia, which is the parent company of several subsidiaries: Telus Communications Inc. offers telephony, television, data and Internet services; Telus Mobility, offers wireless services; Telus Health operates companies that provide health products and services; and Telus International operates worldwide, providing multilingual customer service outsourcing and digital IT services. Telus has a long history and is listed with the Toronto Stock Exchange.

References

  1. 1 2 3 4 "Executive Profile* Stefan Larsson". bloomberg. Retrieved 30 September 2015.
  2. "PVH's New CEO Stefan Larsson Takes Charge". Women's Wear Daily . February 2, 2021.
  3. 1 2 3 Tabuchi, Hiroko; Friedman, Vanessa (29 September 2015). "Ralph Lauren, Creator of Fashion Empire, Is Stepping Down as C.E.O." NY Times. Retrieved 30 September 2015.
  4. Bracket, Ed. "Ralph Lauren leaving CEO post". usatoday.com. USA Today. Retrieved 30 September 2015.
  5. Babcock, Gregory. "Everything You Need to Know About Ralph Lauren's New CEO, Stefan Larsson". complex.com. Complex Media Inc. Retrieved 30 September 2015.
  6. Agreement with Stefan Larsson sec.gov, 26 April 2012
  7. La Monica, Paul (30 September 2015). "Gap shares plunge after Old Navy chief leaves for Ralph Lauren". money.cnn.com. CNN. Retrieved 1 October 2015.
  8. Dziemianowicz, Joe (30 September 2015). "Meet Stefan Larsson, the Old Navy exec who's taking over at Ralph Lauren". nydailynews.com. New York Daily News. Retrieved 1 October 2015.
  9. Russell, Michell. "New CEO likely to focus on Ralph Lauren supply chain". just-style.com. Just Style. Retrieved 1 October 2015.
  10. "End of an Era: Ralph Lauren Is Stepping Down as CEO of His Company". Esquire. 2015-09-29. Retrieved 2016-04-27.
  11. Rachel Abrams and Vanessa Friedman (February 2, 2017). "Tensions Between New and Old, Played Out at Ralph Lauren". The New York Times .
  12. Gensler, Lauren. "Ralph Lauren CEO To Depart Over 'Different Views' With Founder, Shares Tumble". Forbes. Retrieved 2017-02-02.
  13. "Shares of Ralph Lauren plunge as CEO leaves". CNBC. February 2, 2017.
  14. Badkar, Mamta (May 18, 2017). "Ralph Lauren adjusted earnings top estimates as it bridles discounts". Financial Times . United Kingdom. Retrieved May 18, 2017.
  15. "Stefan Larsson Named President of PVH Corp". Business of Fashion. May 22, 2019.
  16. "PVH appoints Stefan Larsson to newly created role of president". Fashion Network. May 21, 2019.
  17. "PVH Corp. Officially Appoints Stefan Larsson as Chief Executive Officer". pvh.com. Retrieved 7 February 2021.
  18. "The RealReal IPO: First Startup From Resale's New Wave To Go Public Sees Shares Soar". Forbes. June 28, 2019.