Capri Holdings appoints Justin Boxford as CEO, John Idol prepares to retire

US fashion group Capri Holdings has appointed Justin Boxford as its next chief executive officer, marking a leadership change amid continued efforts to revive its remaining brands, Michael Kors and Jimmy Choo, following the sale of Versace.

Boxford will take up the role on January 4, 2027, succeeding John D. Idol, who is retiring as chairman and chief executive after more than two decades at the company. Robin Freestone, currently Capri’s lead director, will become independent chairman of the board, while Idol will remain with the group as a senior adviser until March 31, 2027, to support the transition.

The appointment follows a period of restructuring for Capri, which is repositioning itself away from operating as a broader luxury conglomerate following its sale of Versace to Prada in 2025. The sale followed the collapse of its proposed 8.5 billion dollar acquisition by Tapestry, the parent company of Coach, in late 2024 after antitrust concerns.

Since then, Capri has refocused its turnaround efforts on Michael Kors and Jimmy Choo, with Idol overseeing initiatives to strengthen brand positioning, improve full-price sales and reduce reliance on promotions. Michael Kors has been working to revive its "modern glamour" identity through product, marketing and store investments, while Jimmy Choo has been repositioning itself beyond occasion footwear towards a broader lifestyle offer.

In the wake of these shifts, however, the group's financial performance has been mixed. Capri reported revenue of 769 million dollars for the first quarter of fiscal 2027, down 3.5 percent year on year. Michael Kors revenue declined 7.1 percent to 590 million dollars, while Jimmy Choo recorded growth of 10.5 percent to 179 million dollars. Group net income increased to 69 million dollars, compared with 56 million dollars in the year prior.

Boxford brings luxury and beauty experience

Boxford joins Capri from The Estée Lauder Companies, where he most recently served as global president of luxury beauty brands. He brings nearly 30 years of experience across the luxury and beauty industries, including more than two decades at Estée Lauder, as well as previous positions at LVMH, Unilever and L'Oréal.

During his time at Estée Lauder, Boxford held several senior international roles, including global brand president of Estée Lauder and leadership of La Mer. Over five years at the latter, he more than doubled the brand's size, expanded its product portfolio and strengthened its position in luxury skincare. He also held leadership positions in Hong Kong, overseeing growth across China and Asia Pacific, and was involved in the regional expansion of Tom Ford Beauty.

Commenting on the appointment, Freestone said: “This announcement is the culmination of a thorough board-led process to identify Capri’s next CEO, and we are confident that Justin is the right leader to guide Capri in its next chapter of growth. He brings an exceptional track record of revitalising and growing global luxury and beauty brands, deep international experience and a people-centred 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.”

In his own statement, Boxford said he was honoured to take up the role, adding: “Michael Kors and Jimmy Choo are 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.”

Idol steps down after 23 years

Idol has been a central to Capri’s development, credited with overseeing its expansion into a multi-billion-dollar global fashion group. His departure comes as Capri enters a new phase focused on returning its two remaining brands to sustainable growth and strengthening its balance sheet following the Versace sale, which reduced debt and allowed it to refocus investment on the remaining businesses.

Reflecting on his departure, Idol said: “It has been an extraordinary privilege to lead Capri for the past 23 years. I am immensely proud of what we have accomplished together and deeply grateful to our board of directors as well as to our talented teams around the world, whose passion and dedication have driven our success.

“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 CEO.”

Idol expressed further confidence in his successor, noting: “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."

Freestone also acknowledged Idol’s contribution, stating: “On behalf of the board, I want to express our sincere gratitude to John for his many significant contributions and unwavering commitment to Capri. His vision and leadership have been instrumental in building Capri into the global luxury group it is today, and his impact on our brands, people and industry will be felt for years to come.”