Daniel Kulle resigns as CEO of Forever 21
Daniel Kulle is stepping down as CEO of Forever 21.
Kulle revealed in an email to his contacts this week that he has resigned from his role and will be “taking some time off to find out my next move,” according to WWD.
Kulle first joined Forever 21 in February 2020, as the retailer was getting bought out of bankruptcy by Authentic Brands Group, Simon Property Group, and Brookfield Property Partners. As part of his role, he was tasked with reviving the brand following bankruptcy.
Prior to joining Forever 21, the retail veteran spent 25 years at H&M where he served as a strategic adviser and was part of a steering group for three new digital start-ups within the H&M Group.
“We appreciate all that Daniel has contributed throughout his time with the brand and wish him the best in his future endeavors,” said Marc Miller, CEO of SPARC, which also owns Brooks Brothers among other brands, to FashionNetwork.com.
Forever 21 filed for Chapter 11 bankruptcy protection in September 2019, as it fell victim to the rising popularity of online shopping and changing fashion trends. The American fashion retailer ultimately reached an agreement with Authentic Brands Group, Simon Property Group, and Brookfield Property Partners to sell its assets for $81 million.
Forever 21 was founded in Los Angeles by South Korean couple Do Won and Jin Sook Chang in 1984. Despite the popularity of its trendy fashion apparel for women and then men as of 2008, most recently, it faced stiff competition from the likes of H&M and Zara.
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