Ralph Lauren Names Stefan Larsson CEO; Will Continue to Lead Company as Executive Chairman and Chief Creative Officer

Larsson Brings Proven Record of Success Growing Major Global Apparel
Brands

NEW YORK–(BUSINESS WIRE)–Ralph Lauren Corporation (NYSE:RL) today announced that Stefan Larsson,
one of the most successful executives in the fashion industry, has been
named Chief Executive Officer. His appointment will become effective in
November, at which time he will also join the Ralph Lauren Corporation
board. Larsson will report to Ralph Lauren, who will continue to
actively drive the company’s vision and strategy as Executive Chairman
and Chief Creative Officer.

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.

Ralph Lauren said: “My job is to think always about the future of our
company and how to move it forward. Stefan Larsson is exceptionally
talented, and he will bring our company a fresh and exciting global
perspective. Stefan and I have a strong personal bond and share a vision
for the future of Ralph Lauren. I appreciate Stefan’s unique
sensibility, his honesty and his authenticity. We have had tremendous
success expanding the Ralph Lauren brands around the world and creating
a great management team. Now, all the pieces are in place to position
our business for continued growth. We have been a leader in our industry
for nearly 50 years, and this is just the beginning.”

Stefan Larsson said: “I am thrilled to have the opportunity to work
directly and collaboratively with a fashion giant like Ralph Lauren. His
creativity and singular vision have made Ralph Lauren one of the world’s
most influential global brands, and I share his dreams for the future. I
believe the company has tremendous potential to continue expanding in
the global marketplace as it broadens its appeal to all consumers.”

David Lauren, a Ralph Lauren Board Member and Executive Vice President
said: “I’m excited to welcome Stefan to our team and I look forward to
working closely with him. His commitment and passion to build great
brands will be invaluable as we move into the future.”

Positioned for Growth

This announcement follows a number of steps the company has taken in
recent years to continue to strengthen its industry leadership, reach
new consumers and drive the continued growth of Ralph Lauren
Corporation, which last year generated $7.5 billion in sales. In just
the past two years, the company, which already boasts some of the
world’s most iconic and successful brands, continued to significantly
expand its luxury business and added three new brands to its portfolio –
Polo for Women, Polo Sport, and Denim and Supply. In addition, Ralph
Lauren Corporation has implemented a new global brand management
organizational structure and expanded its omnichannel presence to reach
new consumers. It has also made important investments in online, mobile
and e-commerce to build on its track record of innovation and leadership
in technology.

The Company also announced that Jackwyn Nemerov, President and Chief
Operating Officer, will retire in November, at which time she will
become an advisor to the company. Chris Peterson, President of Global
Brands, and Valerie Hermann, President of Luxury Collections, will
continue in their current roles reporting to Stefan Larsson.

Ralph Lauren said: “I am deeply grateful to Jacki for her leadership,
dedication and tireless commitment to the business and our important
customers. Jacki is an extraordinary leader who I respect immensely. She
has become a wonderful friend to me and all those fortunate enough to
work with her.”

ABOUT RALPH LAUREN CORPORATION

Ralph Lauren Corporation (NYSE:RL) is a leader in the design, marketing
and distribution of premium lifestyle products in four categories:
apparel, home, accessories and fragrances. For more than 48 years, Ralph
Lauren’s reputation and distinctive image have been consistently
developed across an expanding number of products, brands and
international markets. The Company’s brand names, which include Polo
Ralph Lauren, Ralph Lauren Purple Label, Ralph Lauren Collection, Black
Label, Lauren by Ralph Lauren, Double RL, RLX, Ralph Lauren
Childrenswear, Denim & Supply Ralph Lauren, American Living, Chaps and
Club Monaco, constitute one of the world’s most widely recognized
families of consumer brands. For more information, go to http://investor.ralphlauren.com.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release and oral statements made from time to time by
representatives of the Company contain certain “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include statements
regarding, among other things, our current expectations about the
Company’s future results and financial condition, revenues, store
openings and closings, employee reductions, margins, expenses and
earnings and are indicated by words or phrases such as “anticipate,”
“estimate,” “expect,” “project,” “we believe” and similar words or
phrases. These forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause actual results,
performance or achievements to be materially different from the future
results, performance or achievements expressed in or implied by such
forward-looking statements. Forward-looking statements are based largely
on the Company’s expectations and judgments and are subject to a number
of risks and uncertainties, many of which are unforeseeable and beyond
our control. The factors that could cause actual results to materially
differ are identified in the Company’s Annual Report on Form 10-K, Form
10-Q and Form 8-K reports filed with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

Contacts

Ralph Lauren Corporation
Investor Relations:
Evren Kopelman,
212-813-7862
Evren.kopelman@ralphlauren.com
or
Corporate
Communications:
Ryan Lally, 212-318-7116
Ryan.lally@ralphlauren.com