The Daniel Kulle era at Forever 21 has come to an end.
Kulle spent 25 years with H&Mbefore being lured by the fast-fashion retailer’s new owners to become chief executive officer at Forever 21 in February 2020. But according to an e-mail he sent Tuesday night to his contacts, Kulle said he had resigned his post two weeks ago and will be “taking some time off to find out my next move.”
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Simon Property Group together with Authentic Brands Group and Brookfield Property Partners bought Forever 21 out of bankruptcy for $81.1 million not including another $73 million for the goods already bought and other costs. It is part of SPARC, which owns Brooks Brothers and other brands. David Simon, CEO of the mall developer, approached Kulle about taking the top job at the Los Angeles-based fast-fashion retailer right before the pandemic.
At H&M, Kulle had been serving as strategic adviser to former H&M Group ceo Karl-Johan Persson and was part of a steering group for three new digital start-ups within the H&M Group when he joined Forever 21. It was his digital experience that was most appealing to Forever 21’s new owners.
Neither SPARC nor Kulle could immediately be reached for comment.
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The Daniel Kulle era at Forever 21 has come to an end.