Designer Reed Krakoff has the entire fashion industry buzzing with the news he just released: Krakoff announced today that after 16 years at Coach Inc. Reed Krakoff will step down in June 2014 as president and executive creative director in order to focus exclusively on his high-end namesake brand. And if that wasn’t newsworthy enough, Krakoff will exit Coach six months after its chairman and chief executive, Lew Frankfort, cedes the ceo title to Victor Luis.
“I’m excited to focus to exclusively on the RK brand and to embark on the next phase of my career,” Krakoff told WWD .“It’s relatively recent [that I made this decision], I’ve been so focused on Coach and the RK brand for the last bunch of years. I’ve been focused on preparing and getting ready for the next evolution of Coach, building a team with Lew, moving forward…it’s really taken up all my time.” The creative director said he would not renew his contract with Coach, which expires in June 2014. And as part of Krakoff’s new plans, he will act more as an adviser to Coach than creative director until June 2014. Coach has reportedly begun a search for a successor to Krakoff and as the company that launched Krakoff’s brand two and a half years ago, said it would explore “strategic options” for the RK collection that “may involve a sale to a group, in which Krakoff would participate.”
Article Source: WWD
Photo Source: esquire.com