MICHAEL KORS TAPS JOSHUA SCHULMAN AS CEO

Capri Holdings Limited, the fashion luxury group which owns Michael Kors, Versace, and Jimmy Choo, has announced that Joshua Schulman has been appointed chief executive officer of the Michael Kors brand effective today. Schulman will be responsible for all aspects of the Michael Kors brand globally, reporting directly to John D. Idol, chairman and chief executive officer of Capri Holdings.

Schulman joins Capri Holdings from Tapestry, Inc. where he was previously president and CEO of the Coach brand. Prior to his tenure at Coach, Schulman was with Neiman Marcus Group serving as president of Bergdorf Goodman from 2012 to 2017, and assuming additional responsibility for NMG International with the acquisition of MyTheresa.com in 2014. From 2007 to 2012, he was chief executive officer of Jimmy Choo. Previously, Schulman has held senior positions in global fashion and luxury brands including Yves Saint Laurent and Gucci.

“I am thrilled to have Josh join Capri Holdings as CEO of the Michael Kors brand,” said Idol. “Josh is an outstanding leader with broad retail experience, industry depth, and a proven track record of successfully operating and growing luxury brands.”

“I am delighted to join Capri as CEO of Michael Kors,” added Schulman. “I have long admired Michael’s design vision and how the brand creates timeless fashion and embodies jet-set glamour. I look forward to working closely with him and the talented Michael Kors management team to build upon the long-standing success of the brand.”

In September 2022, Schulman will succeed Idol as chief executive officer of Capri Holdings and will be appointed to the company’s Board of Directors. Upon Schulman’s appointment as CEO of Capri Holdings, Idol will assume the role of executive chairman. he will work closely with Schulman to transition the role of CEO and continue to provide overall leadership to the Board of Directors.

“Josh’s appointment is part of a thoughtfully planned leadership succession. Over the course of the next year, Josh will immerse himself in the Michael Kors brand. In September 2022, Josh will become the CEO of Capri Holdings,” continued Idol. “The Board and I are confident in Josh’s unique abilities to lead Capri Holdings. His results-driven leadership style and passion for building consumer-centric global brands will be instrumental in maximizing the full potential of our three luxury fashion houses.”

Idol added, “We believe our plan will allow for a smooth CEO transition next fall. I look forward to partnering with Josh on the overall strategic direction for the group as well as on potential strategic acquisitions.”

“I am honored and excited to assume the role of CEO of Capri Holdings next year,” added Schulman. “Capri Holdings has uniquely positioned itself as a leading global fashion luxury group. I have tremendous respect for what the teams have accomplished across the three founder-led brands. I believe in the strategic vision for Capri Holdings and I look forward to partnering with John and the Board in leading Capri Holdings through its next phase of growth.”