Overview
- Capri’s board has selected Justin Boxford to be chief executive, replacing long-time leader John Idol who will retire and stay on as a senior adviser during the handover.
- Robin Freestone was promoted to independent chairman as the company positions new leadership to push higher full-price sales and lift brand desirability.
- Boxford spent more than 20 years at The Estée Lauder Companies and is credited with strengthening digital, omnichannel and luxury-brand growth, skills the board cited as relevant for Capri’s next phase.
- Capri recently reported a sales decline but stronger gross margins and earnings per share, and the stock showed a modest uptick after the leadership announcement.
- The change comes as Capri narrows its focus on Michael Kors and Jimmy Choo after selling Versace and as reports say potential buyers have reviewed the company, a development that could prompt renewed strategic or sale discussions.