1157 ET - Capri CEO John Idol will become CEO of the company's Michael Kors brand starting December 2. He will replace Cedric Wilmotte, who will be leaving the company. Kors, which is Capri's largest brand, has been struggling for years. Its future was thrown into fresh doubt after Tapestry abandoned its acquisition of Capri in the face of Federal Trade Commission opposition. Idol bought the Michael Kors brand along with private equity investors in 2003 and worked alongside designer Michael Kors to turn the brand into a juggernaut that became popular with 20-and-30-somethings who aspired to its jetset lifestyle.(Suzanne.Kapner@wsj.com)
(END) Dow Jones Newswires
November 26, 2024 11:57 ET (16:57 GMT)
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