Michael Kors names former Coach chief Joshua Schulman as CEO
Capri Holdings has revealed that Joshua Schulman will take over as CEO of Michael Kors effective today, and that he will step into the role of Chairman and CEO of the luxury group from September 2022 taking over from John D. Idol.
Initially, Schulman will be responsible for all aspects of the Michael Kors brand globally, reporting directly to John D. Idol, who is the current Chairman and CEO of Capri Holdings. Idol plans to step into role of the group's executive chairman from September next year, allowing Schulman to succeed him.
Schulman joins Capri Holdings from the Tapestry group, where he was CEO of its flagship brand Coach. A seasoned luxury executive, 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, Schulman was CEO of Jimmy Choo – which is now owned by Capri Holdings along with Versace – and before that held senior positions in global fashion and luxury brands including Yves Saint Laurent and Gucci.
“I am delighted to join Capri as CEO of Michael Kors,” commented 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.”
Idol said of the appointment: “I am thrilled to have Josh join Capri Holdings as CEO of the Michael Kors brand. Josh is an outstanding leader with broad retail experience, industry depth and a proven track record of successfully operating and growing luxury brands."
“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,” said 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,” he added.
Upon Schulman's appointment as CEO of the group, Idol will continue to work closely with Schulman to ensure a smooth transition to the role of CEO and to provide overall leadership to the Board of Directors.