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Stefan Larsson, Ralph Lauren?s chief executive, showed his cards on Tuesday.The 41-year-old fast-fashion executive, who was hired last fall to make the company more efficient, said in michael kors bags an interview at his office, ?We had to make near-term tough decisions? to stem three years of disappointing sales.Laying off 1,000 employees and closing about 50 full-price stores were necessary, Larsson told analysts on coach handbags Tuesday at the company?s first investor day, because the iconic fashion house had become ?undisciplined? in the way it had expanded its stores and brands, of which there are a dozen.Over the past six months, Larsson developed a strategic plan that involves reducing the time it takes Coach Handbags to develop new fashions from 15 months to nine; partnering with wholesale distributors; selling more full-price merchandise; and focusing more on its cash-cow brands: Ralph Lauren, Polo and Lauren, which account for the majority of the company?s sales.That means such brands as Chaps and RLX will need to step up their game.?We are keeping all the brands,? Michael Kors Purses Larsson told The Post, ?but moving more resources to the core brands.?Larsson has the full blessings of his boss, designer Ralph Lauren, who said he is ?entrusting [his] baby with him? and told the Coach Outlet Wall Street crowd that he is ?proud? of Larsson.?Yes, did we drop the ball? Make some things wrong? Absolutely,? Lauren added. ?I?m not happy about it but I believe in this company and that coach factory outlet we have a handle on what style is.?Larsson told analysts that he expects the company to stabilize by fiscal 2018 and by 2020 to deliver operating profits in mid-teens and to steal market share.The coach outlet company?s stock price closed down 2.4 percent, to $94.06.
