Daniel Kulle, the CEO of Forever 21, has quit – shockingly, in less than 2 years.
If media reports are anything to go by, then Daniel quit the post because the job wasn’t a good fit. It is still not clear who is currently serving as the CEO.
Meanwhile, Forever 21 and its parent firm Sparc Group (a joint venture of Simon Property Group and Authentic Brands Group) haven’t revealed any details on Daniel’s exit or his replacement.
In a statement released to media, Marc Miller, CEO, Sparc, applauded Daniel for his contribution to the brand throughout his time.
Daniel had joined Forever 21 in February 2020 at a time when the retailer was already battling slowdown in fashion sales – it only worsened with the pandemic hitting the globe within weeks.
He, however, was instrumental in helping Forever 21 re-enter the Chinese market for the third time through a licensed model.
Simon Property Group, Authentic Brands Group and Brookfield Property Partners had bought Forever 21 out of Chapter 11 bankruptcy in February 2020 for US $ 81.1 million.
Forever 21 was founded in 1984 and sells accessories, beauty products, home goods and apparels for women, men and children.
