It’s official the high-end accessorizes dynasty, Coach, will experience a major shift, all because of an expiring contract. Reed Krakoff, the creative director and sixteen year president of Coach, has announced that he will let him contract expire in 2014.
As if leaving wasn’t enough of a blow to the company, Krakoff has declared that leaving his sixteen-year rein will allow him to focus all his attention on furthering his own luxury brand created in 2010. Reed Krakoff is a major figure in the Coach world and his lack of presence is sure to have a great impact on the future of the company.
After all it is Krakoff that is credited with transforming coach from a small, family-owned business into a global, publically owned company. Not only has he expanded their existence in malls across America, but he also expanded Coach’s product line from the initial leather belts and wallets to swimsuits and luggage.
Krakoff’s absence from Coach will definitely have a ripple effect on the corporation. Without his creative direction, Coach can either take one of two turns. The first is to resort back to previous styles and colors, which they know have had success in the past under Krakoff. This would make a safe Coach. On the other hand, Coach can embrace Krakoff’s ending contract as a revival movement within the company. Perhaps they will drift away from their classic, sophisticated feel. Perhaps they will add a wild side to their clean and traditional collections. Only time will tell.
2014 will be a memorable year in regards to the future of Coach. Without the figurehead of Reed Krakoff, Coach can sway in two distinct directions. At this point it is anyone’s guess as to what will happen to Coach, but we can all hope that this American company will not only survive, but flourish.Tags: coach, reed krakoff