French Fashion Executive Ralph Toledano Leaving Multi-Label Company Puig
Ralph Toledano resigned from fashion and beauty business Puig, according to The New York Times. The move is the most recent in a series of leadership changes in high fashion labels.
Toledano was the CEO of labels Nina Ricci and Jean Paul Gaultier. He was also the president for the fashion side of Puig. He had been with the company since 2012.
The French Federation of Couture, Ready-to-Wear Designers and the Creators of Fashion names Toledano its chairman, a position he retains. However, Toledano’s influence is not merely titular. He has hired designers for several prestigious houses, and has a reputation as an astute recruiter. Toledano hired Phoebe Philo for label Chloe and Alber Elbaz for Guy Laroche. He also added to the roster of latest talent in his time with Puig.
Big names in the industry have seen big changes in executives in recent years. Ralph Lauren CEO Stefan Larsson will be exiting the company May 1 over reported differences in vision between him and founder Ralph Lauren, despite being with the company for only two years. Kering, which owns 15 luxury labels, has been shuffling its high-level people in various brands. Other major labels with changes in leadership are Burberry, Céline and Louis Vuitton.
Several factors are shaking up the industry. One of them is the move to digital platforms. Another is a reduction in sales, could be influenced by reduced tourism.
Puig has not put as much into redefinition as its competitors, the New York Times reported. Exiting employees indicated that the company might not be putting enough effort and investment into long term growth for its clothing labels. The company’s chief business is through its fragrances, which it produces for other labels.
Replacing Toledano at Nina Ricci is Sophie Templier, who has experience at Chloe, and at Paco Rabanne is Bastien Daguzan, who lists label Christophe Lemaire on his resume.
As for Toledano, he did not say what his next move would be, but a Puig spokesman said that the executive left with intent to follow different opportunities.