Michael Kors chief executive steps down
Luxury fashion group Capri Holdings has confirmed that Joshua Schulman is to step down as chief executive of the Michael Kors fashion brand.
He took up his role six months ago and was also expected to succeed John Idol as chief executive of Capri Holdings next September when Idol would become executive chairman.
Schulman previously worked with Tapestry where he was president and chief executive of the Coach brand. His CV also includes a stint with Neiman Marcus Group where he was president of Bergdorf Goodman.
In a statement, Capri Holdings did not give a reason for Schulman’s exit, but said Idol will remain as chairman and chief executive of the group.
Idol added: “Michael Kors has a talented management team in place that will continue to execute on its strategic initiatives. The strategies that we put in place prior to the pandemic have been generating strong consumer demand and driving higher profitability as we continue to elevate brand positioning. The board and I remain extremely optimistic about the future growth of Michael Kors and Capri Holdings. We are grateful to Josh for his contributions to our organisation.”
Capri Holdings also owns the Jimmy Choo and Versace luxury fashion brands.
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