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The latter is not a newcomer to the luxury sector, but a veteran. He was responsible for the turnaround of the New York luxury brand Coach, part of the Tapestry Group. He also held senior positions at Gucci, Jimmy Choo <\/strong>and Bergdorf Goodman<\/strong> between 2014 and 2017. Last August, he was appointed CEO of Michael Kors, a brand of the<\/strong> Capri Holdings<\/strong><\/a> group<\/strong>. This group is the owner of Jimmy Choo and Versace, among others.<\/p>\n <\/p>\n The resignation comes amidst a real lack of understanding by the executives of the parent group of Michael Kors, as they reveal that Schulman was on track for a big promotion: taking over as head of Capri Holdings.<\/strong><\/p>\n <\/p>\n Commenting on Schulman’s sudden decision, Capri Holdings’ current chairman and chief executive John Idol<\/strong> reassured the group’s future results, denying any future disruption: “We remain well positioned to deliver significant revenue and earnings growth over the long term, as well as increased value to our shareholders. I am fully committed to continuing to lead Capri Holdings and drive our future success”<\/em>.<\/p>\n <\/p>\n However, there is no indication that Schulman has been ousted from Capri, as his insiders were surprised and caught off guard by the recent announcement.<\/p>\n <\/p>\n It is the current Capri Holdings chairman John Idol, that has been appointed as Michael Kors’ new CEO<\/strong>, although he was due to step down as CEO in September 2022. He was particularly pleased with Schulman’s appointment to the position, stating that “the board and I are confident in Josh’s unique abilities to lead Capri Holdings.<\/p>\n <\/p>\n Now, however, John Idol has expressed his contentment with taking over Schulman’s role: “Michael Kors has a talented management team in place that will continue to execute its strategic initiatives,<\/em>” Idol said in a statement Monday. “The board and I remain extremely optimistic about the future growth of Michael Kors and Capri Holdings. We are grateful for Josh’s contribution to our organisation,<\/em>” he added.<\/p>\n <\/p>\n Nevertheless, even though Capri has seen strong economic results from its brands in fiscal 2021, the group saw its shares fall more than 8% on Monday after Schulman’s sudden and unexplained reversal.<\/p>\n <\/p>\n <\/p>\n Read also > CHANGES TO KERING\u2019S BOARD OF DIRECTORS<\/a><\/p>\n <\/p>\n Featured photo : \u00a9 Getty Images[\/vc_column_text][\/vc_column][\/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]<\/p>\n <\/p>\n <\/p>\n This hybrid place between boutique, museum and restaurant<\/strong> of the luxury house of Dior<\/strong> will reopen its doors this Sunday, March 6, to the delight of aficionados of the brand.<\/p>\n <\/p>\n The latter is not a newcomer to the luxury sector, but a veteran. He was responsible for the turnaround of the New York luxury brand Coach, part of the Tapestry Group. He also held senior positions at Gucci, Jimmy Choo <\/strong>and Bergdorf Goodman<\/strong> between 2014 and 2017. Last August, he was appointed CEO of Michael Kors, a brand of the<\/strong> Capri Holdings<\/strong><\/a> group<\/strong>. This group is the owner of Jimmy Choo and Versace, among others.<\/p>\n <\/p>\n […][\/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…<\/p>\n Already have an account ? Please log in<\/b><\/a>.<\/strong><\/p>\n [\/vc_cta][vc_column_text]Featured photo : \u00a9 Getty Images[\/vc_column_text][\/vc_column][\/vc_row][vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”subscriber,customer”][vc_column][vc_column_text]<\/p>\n <\/p>\n <\/p>\n This hybrid place between boutique, museum and restaurant<\/strong> of the luxury house of Dior<\/strong> will reopen its doors this Sunday, March 6, to the delight of aficionados of the brand.<\/p>\n <\/p>\n The latter is not a newcomer to the luxury sector, but a veteran. He was responsible for the turnaround of the New York luxury brand Coach, part of the Tapestry Group. He also held senior positions at Gucci, Jimmy Choo <\/strong>and Bergdorf Goodman<\/strong> between 2014 and 2017. Last August, he was appointed CEO of Michael Kors, a brand of the<\/strong> Capri Holdings<\/strong><\/a> group<\/strong>. This group is the owner of Jimmy Choo and Versace, among others.<\/p>\n <\/p>\n […][\/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…<\/p>\n<\/h2>\n
Who will replace Schulman as CEO?<\/h2>\n
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Michael Kors<\/a> chief executive Joshua Schulman yesterday\u00a0his resignation from the U.S. fashion group, after only seven months at the helm.<\/h4>\n
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Michael Kors<\/a> chief executive Joshua Schulman yesterday\u00a0his resignation from the U.S. fashion group, after only seven months at the helm.<\/h4>\n