Kulle who joined Forever 21 in February 2020, told his contacts that he was resigning from his role as CEO via email on Tuesday (19 October), according to reports.
In an official statement Marc Miller, CEO of SPARC Group, which owns Forever 21 said:
“We appreciate all that Daniel has contributed throughout his time with the brand and wish him the best in his future endeavours.”
Prior to joining Forever 21, Kulle had spent over 25 years at Swedish retailer H&M Group. He started as an area controller in Sweden and climbed the ranks to become president of H&M North America in September 2009. His final role at H&M before leaving to join Forever 21 was senior advisor to the H&M Group CEO.
Kulle was named Forever 21 CEO shortly after Forever 21 was acquired by Authentic Brands Group (ABG) and Sparc Group, a global enterprise that designs, sources, manufactures, distributes, and markets apparel and accessories
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The plan was to have a strategic focus on “re-energising” core product categories along with plans to explore experiences including pop-up events and brand collaborations, explained Authentic Brands Group at the time.
Kulle said upon joining Forever 21: “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.”
Kulle joined the company shortly before the Covid-19 pandemic created mass lockdowns that led to shops having to close across the world.
Forever 21 re-entered the UK and EU market with a new online store for British customers as part of its e-commerce centric global expansion strategy last year.