Forever 21 has appointed a new chief executive officer, Daniel Kulle, a 23-year veteran of one of its biggest competitors, Swedish fast-fashion retailer H&M.
Kulle has over 20 years of experience at Swedish retail house H&M, where he most recently worked as a strategic advisor to former CEO Karl-Johan Persson and as a group member for three new digital startups within the H&M Group.
According to Business Of Fashion, Forever 21 was sold earlier this month to Authentic Brands Group (ABG), Simon Property Group and Brookfield Property Partners, which collectively paid $81 million for the brand.
View this post on Instagram
A post shared by Authentic Brands Group (@abg_nyc) on
According to Fashion United, ABG said that Kulle will help modernise Forever 21’s content and social media strategies, work with the brand’s leadership to evolve its sustainability initiatives, and re-energize core product categories.
The brand management company said in a statement: “Under Kulle’s leadership, Forever 21 is expected to sharpen its focus on seamless retailing, strengthening its loyalty program, and elevating the in-store journey through unique experiences such as pop-up events and unexpected brand collaborations that continuously surprise and delight customers. Kulle will also spearhead developing a purpose-driven ethos for Forever 21 that will serve as bedrock for all aspects of the business.”
Commenting on his appointment in a statement, Kulle said: “Forever 21 enjoys strong brand awareness and affinity, a clear consumer set, and quick-to-market capabilities, allowing the brand to be nimble and leverage key trends and create strong value for its customers. The strong ownership structure, which combines ABG’s marketing prowess with Simon and Brookfield’s retail real estate expertise, creates a foundation for long-term growth.” This was reported by Fashion United.