Ralph Lauren Looking to Make Shift From Outdated Aspirational Luxury to Modern Fast-Fashion with New CEO

As times change, so do consumer preferences. The clothing company Ralph Lauren is a firm that is feeling the effects of this shift along with the entire “aspirational luxury” industry. The selling point of these aspirational luxury items had previously been in their ability to convey a particular lifestyle. In the case of Ralph Lauren, the perception is one of upscale prep, and the idea behind the logo is that, although one might not be a member of an esteemed organization such as a polo club, by donning the Ralph Lauren moniker on your chest, you could at least look the part. Other similar aspirational luxury brands include Abercrombie and Fitch and Coach. 

With this decline in interest for lifestyle brands, Ralph Lauren is looking to revitalize his company by seeking help from the very individual who is instrumental in eroding the foundation of these logo-driven marketing schemes. Lauren has decided to step down as CEO and will be succeeded by Stefan Larsson, the global president of Old Navy. Larsson is regarded as a wizard in the fast fashion world and his arrival sparks enthusiasm for the future of the company. While working at Old Navy and H&M, Larsson was able to showcase his talent and understanding for modern retailing trends and the desire of younger consumers to be unique. 

It is becoming more evident that today’s shoppers are looking for products that will help them stand out, which is a complete reversal from the desires of consumers several years ago. Instead of spending large sums of money to embody a particular brand, consumers today seek to be their own brand. By recognizing this variation in retail spending, Ralph Lauren Corporation looks to rise from the ashes of aspirational luxury and make waves in the fashion industry like they have done for so many years. 

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Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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