Ralph Lauren Corporation is ramping up the global growth and expansion of its luxury business under the guidance of Valérie Hermann, the former CEO of Reed Krakoff.

In the newly created role of president of Ralph Lauren Luxury Collections, Hermann will be responsible for strategy, merchandising, distribution, and overall expansion of the global luxury businesses, including Men's and Women's Collection brands in apparel, RRL and accessories, as well as timepieces, fine jewellery, eyewear and fragrance.

Hermann will report directly to Ralph Lauren, chairman and CEO.

"This is a very exciting moment for our company," Lauren said. "Luxury epitomises the aspirational aesthetic of the Ralph Lauren brand, and we felt that it was time to capitalise on the success we have achieved by leveraging the collective strengths of our luxury portfolio and placing them under a single leader.

"Valérie is an exceptionally skilled executive with an instinctive ability to marry the commercial and creative sides of luxury.

"She has extensive experience working with many of the leading European fashion houses and is ideally positioned to work alongside me and the leadership team to accelerate the global growth and expansion of our luxury business."

Hermann was most recently CEO of Reed Krakoff, the namesake brand set up by the former creative director at Coach, who has just completed a deal announced last July to buy back the label.

Hermann's track record also includes serving as CEO of Yves Saint Laurent (now called Saint Laurent Paris) as well as various roles at LVMH Moët Hennessy Louis Vuitton, including director of women's ready to wear at Dior.