Stefan Larsson (businessman)

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Stefan Larsson
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]

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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.
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