Dive Brief:
- Ralph Lauren Corporation has promoted Bob Ranftl to chief operating officer, effective March 30, according to a Tuesday news release. Ranftl will remain in his current role as regional CEO for North America until then.
- Ranftl succeeds Jane Nielsen, whose previously announced departure is part of a multiyear strategic succession plan, per the release. Meanwhile, Ranftl will be succeeded by Mercedes Abramo, who will join the company on March 1.
- Abramo was most recently deputy chief commercial officer at Cartier, where she spent nearly 17 years. Both Ranftl and Abramo will report to Patrice Louvet, president and CEO of Ralph Lauren Corporation.
Dive Insight:
The executive changes come amid slow but steady growth at the U.S.-based company.
In its earnings for the second quarter of fiscal 2025, the company reported a 6% year-over-year revenue increase, which included a 3% revenue uptick in North America. That was up from Q1, which saw a 1% overall revenue rise and a 3.7% drop in North America.
Louvet said both hires represented strategic choices intended to keep the company on track, particularly at home.
“With his global Ralph Lauren experience, extensive operational background and deep love for our brand, Bob is uniquely qualified to serve as our next Chief Operating Officer after laying strong foundations that pivoted North America to growth,” Louvet said in the release. “As we progress on our path toward long-term, sustainable growth in North America, Mercedes’s proven luxury retail and people leadership, and her deep understanding of the market and consumer, make her a natural choice to be our next Regional CEO for North America.”
Ranftl has been in his current position for nearly three years, according to his LinkedIn. Prior to that, he held executive leadership roles at Ralph Lauren including senior vice president and chief operating officer of Asia Pacific, chief operating officer of international and chief operating officer of commercial. As regional CEO for North America, Ranftl was responsible for the company’s expansion in key cities, its DTC entry in Canada and a repositioning of its wholesale strategy, per the release.
In his new role, he will be responsible for IT, logistics, real estate, architecture, store design and licensing, and help enable “continued growth in the regions,” per the release.
“The North America team has set the foundation for the region’s bright future ahead under Mercedes’s leadership,” Ranftl said in the release. “The Company is in a strong position, and as COO, I look forward to driving the operational excellence that will help enable long-term success.”
Abramo, who will relocate to New York when she takes on her role, started at Cartier as director of the brand’s Fifth Avenue flagship store. She later became vice president of retail, then president and CEO of Cartier North America before taking on her current role, per the release.
“I am deeply inspired by brands that have rich history and heritage, and that create a lifelong emotional connection with their consumers by staying true to who they are while innovating and maintaining relevance,” Abramo said. “Time and time again, Ralph Lauren has achieved this, helping to define American luxury. The North American market is incredibly diverse, dynamic and full of opportunity. I am proud to join the team at one of the most exciting times in the Company’s history and to help lead the region in its next stage of growth.”
