New York – Polo Ralph Lauren Corporation (NYSE: RL) announced today that Bridget Ryan Berman has been promoted to President and Chief Operating Officer (COO) of Polo Retail Group. In this newly created position, Ms. Ryan Berman will be responsible for both Polo Retail Corporation (PRC) and Polo Factory Store Concepts (FSC). She reports to Roger Farah, President and Chief Operating Officer (COO) of Polo Ralph Lauren Corporation.
One of Ms. Ryan Berman's first initiatives will be to implement and direct a shared-service business model, a new management initiative for Polo Ralph Lauren Corporation that is designed to enhance operations of Polo Retail Group. PRC and FSC will continue to function as separate businesses that retain responsibility for their individual Marketing, Merchandising, Store Operations and Visual Presentation activities. Co-operational services now will exist for PRC and FSC in the following areas: Finance, Human Resources, Merchandise Operations and Real Estate. This operational foundation is another step in improving efficiency and cost effectiveness.
Ms. Ryan Berman began her career at Polo Ralph Lauren in 1992 and most recently was President of Polo Factory Store Concepts where she was responsible for leading and managing all Polo Ralph Lauren and Polo Jeans Co. outlet stores. An announcement of her successor for this position is forthcoming; this person will report to both Mr. Farah and Ms. Ryan Berman.
In a related move, Charles Fagan has been named President of Polo Retail Corporation. He will continue to oversee merchandising, planning, store-line operations and visual presentation for all full-price Polo Retail stores. Mr. Fagan joined Polo Ralph Lauren in 1986 and most recently was Executive Vice President of Polo Retail Corporation. He will report to Mr. Farah and Ms. Ryan Berman.
“Bridget and Charles are proven talents and highly experienced members of our senior management team. Together, they have 25 years of experience at Polo Ralph Lauren. The promotion of these outstanding executives reflects our confidence in their leadership and our commitment to the continuing expansion of Polo Retail Group,” commented Mr. Farah.
Polo 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 30 years, Polo'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 by Ralph Lauren,” “Polo Sport Ralph Lauren,” “Ralph Lauren Collection,” “Ralph Lauren Purple Label,” “RALPH by Ralph Lauren,” “Lauren by Ralph Lauren,” “Polo Jeans Co. Ralph Lauren,” and “Chaps Ralph Lauren,” among others, constitute one of the world's most widely recognized families of consumer brands. In May 1999, Polo Ralph Lauren acquired Club Monaco, a vertical lifestyle retailer based in Toronto. In February 2000, Ralph Lauren Media, LLC was formed as a joint venture between Polo Ralph Lauren, NBC and an affiliated company — ValueVision International, Inc. — to bring the Polo Ralph Lauren American lifestyle experience to consumers via multiple media platforms, including the Internet, broadcast, cable and print