Michael Kors, the luxury fashion brand owned by Capri Holdings Ltd, has recently announced a change in leadership. Joshua Schulman, who was expected to take on the role of CEO for Capri Holdings in September, will now be stepping down from his position. Despite this, John D. Idol will remain as chairman and CEO of the company.
Capri Holdings has expressed confidence in its ability to achieve long-term revenue and earnings growth, as well as deliver increased value for its shareholders. Idol has assured stakeholders that he is fully committed to leading Capri Holdings and driving its future success.
Schulman joined Capri Holdings in August 2021, having previously served as the president and CEO of the Coach brand at Tapestry Inc. He also held executive positions at Neiman Marcus Group, including president of Bergdorf Goodman and CEO of NMG International. Schulman’s experience also includes his time as CEO of Jimmy Choo from 2007 to 2012, a brand that Capri Holdings now owns.
Despite Schulman’s departure, Idol remains optimistic about the talented management team at Michael Kors and their ability to continue executing the brand’s strategic initiatives. The company’s pre-pandemic strategies have proven successful in generating strong consumer demand and higher profitability, as they continue to elevate the brand’s positioning.
The board and Idol have expressed their gratitude to Schulman for his contributions to the organization. They believe Michael Kors and Capri Holdings have a bright future ahead and are confident in their continued growth.
Useful links:
– Official Michael Kors Website
– Capri Holdings Official Website
