The Estée Lauder veteran, who takes over on Jan. 4, is stepping into a business in flux.

After more than two decades of growing Michael Kors parent Capri Holdings into a corporate fashion force, John Idol is retiring and handing the reins to Estée Lauder veteran Justin Boxford.

Boxford will become chief executive officer of Capri on Jan. 4. WWD was the first to report on Tuesday night that Boxford was seen on his way to the corner office.

Idol, who is currently both chairman and CEO, will stay on as a senior adviser through the end of March.

“This announcement is the culmination of a thorough board-led process to identify Capri’s next chief executive officer, and we are confident that Justin is the right leader to guide Capri in its next chapter of growth,” Freestone said. “He brings an exceptional track record of revitalizing and growing global luxury and beauty brands, deep international experience and a people-centered leadership approach. We look forward to Justin leveraging his expertise and perspectives to build on the strengths of Michael Kors and Jimmy Choo and pursue the opportunities ahead.”

Boxford described both of the company’s brands — Michael Kors and Jimmy Choo — as “iconic luxury houses, with distinct identities and tremendous potential.”

“I look forward to working with Capri’s teams around the world to build on the brands’ strong foundations, deepen connections with consumers and drive sustainable growth and value for our shareholders,” he said.

Boxford is stepping in at a key moment for the business, which has been showing signs of turnaround lately but has also been talking to would-be acquirers about a potential sale, according to sources.

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