Forever 21's CEO Daniel Kulle resigns

Daniel Kulle has stepped down as CEO of Forever 21, revealing the news internally in an email to his contacts that he has resigned and will be “taking some time off to find out my next move”.

Kulle joined the company in February 2020, just prior to the COVID-19 pandemic. The retail veteran spent 25 years at H&M before joining the Los Angeles-based fast-fashion retailer.

Kulle was tasked with reviving the brand immediately following its bankruptcy and joint buyout by Simon Property Group together with Authentic Brands Group and Brookfield Property Partners. It is part of SPARC, whose portfolio includes Brooks Brothers, Nautica and Aeropostale.

David Simon, CEO of Simon Property Group, had approached Kulle about taking the top job due to his e-commerce and digital expertise.

Kulle was previously a strategic adviser to H&M’s CEO Karl-Johan Persson and one of the leaders of a group for three digital start-ups within H&M.

Forever 21 has not responded to a request for comment.