Joshua Schulman, CEO at Michael Kors, is leaving the company. In this context, Capri Holdings Limited, parent company of brands such as Michael Kors, Versace and Jimmy Choo, announced on Monday that John Idol will remain in his position as Capri CEO.
Idol remains Capri CEO – Schulman leaves
Actually, Schulman was supposed to succeed Idol. The US fashion group did not give any more details as to why the plans announced in August are not being implemented or about Schulman’s successor.
“Michael Kors has a talented management team that will continue to execute on its strategic initiatives. The strategies we implemented prior to the pandemic generated strong consumer demand and increased profitability as we continue to improve brand positioning,” said Idol. “The Board and I remain extremely optimistic about the future growth of Michael Kors and Capri Holdings. We are grateful to Josh for his contribution to our company.”
Before joining Capri, Schulman was CEO at Coach from 2017 to 2020. Prior to that, he held various management positions at US retailer Neiman Marcus and was Managing Director of what is now Capri brand Jimmy Choo from 2007 to 2012. At Capri, he was appointed Michael Kors CEO to “deep into the Michael Kors brand” for a year and then take over the management of the group in September 2022, according to a report last August. Idol was then to move to the post of Executive Chairman.