Longtime CEO of Michael Kors parent company to retire; successor named
Capri Holdings Limited has tapped an Estée Lauder veteran as its next leader.
The parent company of luxury brands Michael Kors and Jimmy Choo said that John D. Idol will retire as chairman and CEO. Idol, who has led the company for 23 years, will serve as a senior advisor to Capri through March 31, 2027.
Capri named Justin Boxford as CEO and board member, effective January 4, 2027. He joins the company after nearly 23 years with Estée Lauder Companies, where he most recently served as global president, luxury beauty brands. Previously, he served as global brand president of Estée Lauder.
In other changes, Robin Freestone, current lead director of the Capri board, will become independent chairman. The leadership transition comes as Capri is working to turnaround sagging sales for Michael Kors while it builds on the growth of Jimmy Choo.
“We are confident that Justin is the right leader to guide Capri in its next chapter of growth,” said Freestone. “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.”
Outgoing CEO Idol has led the company since December 2003. He oversaw its acquisition of Jimmy Choo nearly 10 years ago and the purchase and eventual sale of Versace to Prada last year in a deal valued at $1 billion-plus. (The deal came after the collapse of Tapestry’s planned $8.5 billion acquisition of Capri Holdings due to legal hurdles.)
“With the progress we have made in advancing our strategic initiatives and with the company on the path to return to growth in the fourth quarter, this is the perfect time for Capri to transition to its next chief executive officer,” stated Idol. “I have had the opportunity to work with Justin in the past while he helped build the Michael Kors fragrance business at The Estée Lauder Companies and have watched his successes over the years. I am confident he is the ideal person to lead Capri into the future.”
