Forever 21 CEO leaves after less than two years

The H&M veteran brought in to run Forever 21 has resigned.

Daniel Kull resigned his position as chief executive of the fast-fashion chain two weeks ago, reported Women’s Wear Daily. He resigned in part because the job wasn't a good fit, the report said. Kulle took the reins of Forever 21 in February 2020 after spending 25 years with H&M. 

During his two-decade-long tenure at H&M, Kulle expanded the Swedish fast-fashion retailer’s bricks-and-motor and e-commerce presence in existing and new markets across North America. Under his leadership, the company’s North American sales grew from $1 billion to $4 billion annually. He opened 600 stores as well as developed integrated e-commerce platforms in the U.S., Canada, and Mexico.

Simon Property Group together with Authentic Brands Group and Brookfield Property Partners bought Forever 21 out of bankruptcy in February of 2020.

“We appreciate all that Daniel has contributed throughout his time with the brand and wish him the best in his future endeavors,” Marc Miller, CEO of SPARC, the joint venture between Simon Property Group and Authentic Brands Group, said in the WWD report. The SPARC portfolio also includes Eddie Bauer, Brooks Brothers, Lucky Brand, Forever 21, Aeropostale and more.

The company did not provide any details on the reasons for Kulle’s departure and who is running the business on an interim basis until a replacement is named.