Ralph Lauren is stepping down from the helm of his fashion empire, handing off the reins to Stefan Larsson, president of Old Navy, whose fortunes as Gap’s sister brand he had been widely credited as reviving since he took over in 2012.

The 75 year old American designer has indicated that he intends to stay active at the company he founded almost a half-century ago in roles as executive chairman and chief creative officer.

"When they start designing things I can’t understand, I’ll quit," Lauren said, "But I don’t feel like I’m stepping back now."