Ralph Lauren Corp. has continued with the epidemic, continuing to grow its brand with younger consumers – and senior executives have seen the highest paid days in the process.
“This year, our teams around the world have delivered stronger results than we had expected from growing in all the brands, channels, categories and regions – demonstrating their speed and strength in the midst of a difficult environment,” said senior chairman and chief arts officer Ralph Lauren. and chief executive Patrice Louvet in a joint letter to shareholders filed with the regulatory authorities.
Sales have also returned to the worst of the epidemic, rising 41 percent to $ 6.2 billion last year on April 2.
Through her efforts, Lauren saw her compensation increase by 45.6 percent to $ 24.9 million. That includes $ 12 million in incentive salary and $ 1.8 million in salary. His pocket also included stock prizes valued at $ 11 million, though the total amount of compensation based on the share would ultimately depend on the company’s Wall Street performance.
Louvet’s portfolio increased 53.8 percent to $ 18.6 million, including $ 7.9 million in promotional earnings.
The five officials mentioned in a statement from a fashion company representative received a total compensation of $ 68.9 million – an increase of 48.1 percent compared to the previous year.
The senior team included Howard Smith, a former chief marketing officer, but resigned at the end of the year after an investigation found he had “violated company code of conduct and ethics and other policies.”
The nature of the violation was not disclosed, except for a vague confirmation from the company that it “has nothing to do with corporate financial reporting and business operations.”
A source told WWD at the time of the revelation that the violation was not related to sex or money, but rather reflects the many instances of “misjudgment.”
However, Smith, the company’s 19-year-old veteran, was allowed to carry an important pay package.
His compensation increased by 28.2 percent last year to $ 12.3 million, including $ 3.2 million in payments.