Joshua Schulman has been appointed as the new CEO of Michael Kors, taking up the role immediately. Additionally, he will become the CEO of Capri Holdings in September 2022. Schulman, who previously held the position of president and CEO of the Coach brand at Tapestry Inc., brings a wealth of experience in the fashion and luxury industry. Prior to his time at Coach, he served as president of Bergdorf Goodman at the Neiman Marcus Group and was CEO of Jimmy Choo.
The current CEO of Capri Holdings, John D Idol, will transition into the role of executive chairman when Schulman assumes the position of group CEO. In his current capacity as CEO of Michael Kors, Schulman will report to Idol.
Idol praised Schulman as an exceptional leader with a proven track record in successfully operating and growing luxury brands. Schulman himself expressed his admiration for Michael Kors’ design vision and how the brand captures the essence of jet-set glamour. He is eager to work closely with Kors and the talented management team to build upon the brand’s existing success.
The leadership changes at Capri Holdings have been strategically planned as part of a succession plan. The board and Idol have faith in Schulman’s abilities to lead the company and maximize the potential of its luxury fashion houses, which include Michael Kors, Versace, and Jimmy Choo. Schulman will also be appointed to the board in September 2022.
Moving forward, Idol and Schulman will collaborate on the overall strategic direction of the group, as well as potential strategic acquisitions. The appointment of Schulman as the new CEO of Michael Kors and future CEO of Capri Holdings symbolizes a new chapter for the company and its luxury brands.
Useful 2 links:
1. Michael Kors Official Website
2. Capri Holdings Official Website
