Michael Kors Steps Back From Capri Board

Michael Kors slipped off the board of Capri Holdings — the company that started with his namesake brand and has now expanded with the acquisitions of Jimmy Choo and Versace. The move was revealed in a filing with the Securities and Exchange Commission late Friday — a kind of witching hour for public companies wanting to quietly make some revelation. The company took on the name Capri in December to “reflect its stature as a global fashion luxury group comprised of three founder-led brands,” according to the filing. “Consistent with this strategy…Mr. Michael Kors decided that, effective March 29, 2019, he will no longer serve as a director or executive officer of Capri Holdings,” the filing continued. Contacted by WWD, the company sent a statement from John Idol, chairman and chief executive officer of Capri, that noted: “The board of directors will focus on the growth and development of each of these three unique luxury houses. Michael Kors is our largest and most profitable brand in the group. “Mr. Kors remains the honorary chairman and chief creative officer of the Michael Kors brand,” Idol said. “He is the leader of our successful American luxury house and will continue to guide its creative vision.” Kors founded the

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD https://ift.tt/2I1gdm4