Capri Holdings names longtime Estee Lauder executive Justin Boxford CEO

On November 11, Capri Holdings announced that longtime Estee Lauder executive Justin Boxford will become the company's new CEO, replacing John Idol. Boxford, who has spent over two decades at Estee Lauder, will assume the role on January 4, 2027. Currently, Boxford served as the global president of the cosmetics company’s luxury beauty brands.

The fashion group is attempting to attract customers back to its high-end handbags and accessories due to uneven demand. Michael Kors handbags on the company’s website range from $89 to $279, while Jimmy Choo handbags cost between $750 and $6,500.

David Swartz, a senior equity analyst at Morningstar, praised the leadership change and noted that Capri is in a better position than two years ago, with most of the challenging restructuring work completed or in progress. The company has faced difficulties due to geopolitical uncertainty suppressing consumer spending in key international markets, resulting in a negative total shareholder return of 34% since going public.

Rachel Wolff, an eMarketer analyst, believes that Boxford's experience working in Asia could prove beneficial for Capri in boosting its sales in the region. Asia accounted for nearly 13% of the company’s revenue in fiscal 2026, while the Americas made up around 58%. Earlier this month, Capri lifted its annual forecasts, anticipating new collections and increased marketing efforts to revive sales growth.

John Idol has been the CEO of Capri Holdings since December 2003, leading the company through its acquisition of Jimmy Choo nearly a decade ago and the purchase and subsequent $1.4 billion sale of Versace. Additionally, Idol oversaw a failed $8.5 billion merger attempt with Coach parent Tapestry in 2024. In 2021, Capri had announced that Joshua Schulman would succeed Idol in September 2022; however, Schulman left the company before the transition.