Ralph Lauren Corp. has a new wholesale guru.
In yet another major management change, Lana Todorovich, president of women’s apparel and accessories, is expected to be promoted to president of wholesale, sources said this week.
Todorovich’s responsibilities, sources said, would include the men’s, boys’, girls’, baby and home categories, as well as women’s and accessories.
A spokesman for Ralph Lauren Corp. on Wednesday confirmed the change.
Ralph Lauren is undergoing a mass restructuring involving cutting costs, closing stores — including the Polo store on Fifth Avenue — and consolidating staff.
Among the changes, the company is seeking a new chief executive officer, with Stefan Larsson, the current president and ceo, set to exit on May 1.
Changes seem to be happening fast at Ralph Lauren. Larsson is leaving just about a year and a half after he joined from Old Navy, and the Polo store on Fifth Avenue is closing after only operating for about three years.
Larsson is leaving behind the strategy he developed, The Way Forward, which is ongoing and involves a series of initiatives aimed at getting the fashion house back on the growth path. These include speeding up the supply chain; focusing on the core collections of Ralph Lauren, Polo and Lauren; shuttering stores, and eliminating management layers.
Todorovich, a highly regarded fashion executive who joined Ralph Lauren last year, will be honored at the K.I.D.S./Fashion Delivers Annual Women of Inspiration Luncheon fund-raiser in June at The Pierre hotel. Also being honored then are designer Tracy Reese and Target Corp. marketing director Gaye Dean.
Prior to joining Ralph Lauren last year, Todorovich was an executive at Li & Fung, Warnaco, Gottex and Jones New York.