Forever 21’s new CEO is former H&M exec

Daniel Kulle will take over the fast-fashion brand, less than a week after troubled retailer sold for $81M

National /
Feb.February 25, 2020 04:50 PM
Daniel Kulle (Credit: Getty Images)

Daniel Kulle (Credit: Getty Images)

Forever 21 has appointed a new CEO less than a week a bankruptcy court judge approved the fashion retailer’s sale to a trio of investors for $81 million.

Daniel Kulle will take the top job after more than two decades at H&M. The announcement was made Tuesday by Authentic Brands Group, which reached a deal to buy Forever 21 with Simon Property Group and Brookfield Property Partners. The sale was finalized last week.

Kulle most recently served as H&M’s North America president, according to Bloomberg, which first reported on the appointment.

Kulle, who will be based at Forever 21’s West Coast headquarters in Los Angeles, will focus on modernizing the brand’s “content and social media strategies,” among other areas, according to the announcement. Authentic Brands’ CEO Jamie Salter called Kulle “a well-respected, progressive fashion executive.”

A bankruptcy court judge approved the Forever 21 sale after a planned auction failed to attract other bidders. The deal effectively ended the tenure of the company’s founding family, the Changs, who had owned and operated the retailer for almost 35 years. The company filed for bankruptcy in September, and had said it would shutter 178 stores.

David Simon, CEO of Simon Property Group, said in an earnings call earlier this month that the new ownership group would keep Forever 21’s remaining stores open, and continue to operate its website.

Write to Sylvia Varnham O’Regan at [email protected]


Related Articles

arrow_forward_ios
Kohler Interiors' Rachel Kohler with  21-05 51st Avenue (Loopnet, Getty)
Tile retailer Ann Sacks inks 21K sf lease in Long Island City
Tile retailer Ann Sacks inks 21K sf lease in Long Island City
Vornado's Steve Roth with 1540 Broadway
Vornado writes down portfolio by $600M
Vornado writes down portfolio by $600M
(Photo Illustration by The Real Deal with Getty)
Big-box retail growth has Bed Bath & Beyond landlords thinking
Big-box retail growth has Bed Bath & Beyond landlords thinking
Chick-fil-A CEO Andrew Cathy and a rendering of Chik-fil-A 2205 Central Park Avenue in Yonkers  (Chik-fil-A/City of Yonkers)
Chick-fil-A hatches first Westchester location
Chick-fil-A hatches first Westchester location
Harry Macklowe with 1 Wall Street
Macklowe’s 1 Wall Street tops Manhattan’s largest retail leases of 2022
Macklowe’s 1 Wall Street tops Manhattan’s largest retail leases of 2022
(Photo Illustration by Steven Dilakian for The Real Deal with Getty)
Manhattan retail market rises again, but momentum wanes
Manhattan retail market rises again, but momentum wanes
Retail, Shopping Centers, Cushman & Wakefield
U.S. shopping center vacancy hits 15-year low
U.S. shopping center vacancy hits 15-year low
(Getty Images)
Bed Bath & Beyond weighs bankruptcy
Bed Bath & Beyond weighs bankruptcy
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...