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Michael Kors, Jimmy Choo owner names new CEO

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Michael Kors, Jimmy Choo owner names new CEO

Capri Holdings tapped Estée Lauder Companies veteran Justin Boxford as its next chief executive as John Idol is set to retire.

Capri Holdings — owner of Michael Kors and Jimmy Choo — named Justin Boxford as its chief executive officer, effective Jan. 4. Current CEO and Chairman John Idol will retire after about two decades of leadership at the luxury company, though he’ll remain a senior adviser through the end of March.

Boxford will also join the board of directors, and current lead director, Robin Freestone, will become independent chairman of the board, per a Wednesday press release. The new CEO has nearly 30 years of experience in the luxury and beauty spaces, most recently serving as global president of luxury beauty brands at Estée Lauder Companies.

“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 in a statement. “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.”

The shift comes at a pivotal time in Capri’s broader turnaround efforts. 5% year over year to $809 million, with Michael Kors driving much of that decline while Jimmy Choo saw sales gains.


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