Retail Expert: Ralph Lauren Hiring Management From Coach Is Like Chipotle Hiring From Taco Bell
Late last week, Ralph Lauren Corp (NYSE: RL) hired the chief financial officer of Coach Inc (NYSE: COH) -- Jane Nielsen -- as part of a bid to reinvigorate the brand with fresh management. This caught the attention of noted luxury retail expert, Kristin Bentz.
"$RL hiring mgmt form $COH is like $CMG hiring mgmt from Taco Bell," the @TalentedBlonde tweeted.
So, what exactly did she mean?
"Luxury is changing," Bentz told Benzinga. "Instead of shirts, it's about the selfies."
The retail expert went on to explain that Ralph Lauren wants to be an aspriational brand, but "caught the Coach flu." She said Coach has overexposed itself over the years and has taken itself out of the luxury retail market. Therefore, the hiring of a Coach executive may bring more questions than answers.
"You are your brand now," Bentz concluded.
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