Coach’s Reed Krakoff announced today that he’s stepping down from the role of creative director to focus on his namesake luxury label. While Krakoff’s contract with the brand doesn’t end until the summer of 2014, he’ll be working on an advisory basis until then. Which means that Coach’s search for a new creative director is most certainly under way.
Krakoff’s partnership with Coach’s retiring CEO Lew Frankfort lasted a remarkable 16 years, and launched the leather-goods label into a new financial stratosphere. In 1996, when Krakoff came on board, sales were $500 million. In 2012, they reached almost $4.8 billion. Frankfort’s successor, Victor Luis, is already in place. (And a longtime member of the Coach team.) Whomever is brought on to replace Krakoff will have to be able to handle the tremendous financial pressure being a public company brings, but also help to expand Coach’s brand beyond handbags. Clothing, in particular, is an area where there is tremendous opportunity for growth, both abroad in and the US.
But who will it be? We’re sure Coach will search internally first, and that the search may end there. But it’s fun to consider outsiders. Here are our semi-educated suggestions for whom Coach should appoint as its next creative director. What do you think?
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When H&M announced its latest designer collaboration with Maison Martin Margiela, we’ll admit we were a little surprised. Margiela is so avant-garde, so cult-y, and with little name recognition (OK, more than a little thanks to Kanye) we’d have figured them the last brand to do a collaboration with a mass retailer. But then again, H&M got Karl Lagerfeld to do a line for it in 2004, and then, somehow, the retailer convinced the most reclusive and enigmatic of designers, Rei Kawakubo, to do a Comme des Garcons collaboration in 2008. So maybe it’s not so surprising that Maison Martin Margiela is doing a mass collab–maybe it’s even obvious. It seems like every major designer has done a lower-priced collaboration with any number of mass retailers recently.
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If you didn’t get your hands on one of the lust-worthy pieces from one of Target‘s blink-and-you-missed-it designer collaborations over the years, you might get a second chance. In celebration of Five Years of GO International®, Target is following in the footsteps of Betsey Johnson and Anna Sui by reissuing 34 dresses from the following 17 previously featured designers:
Luella Bartley, Tara Jarmon, Paul & Joe, Behnaz Sarafpour, Proenza Schouler, Libertine, Alice Temperley, Erin Fetherston, Jovovich-Hawk, Rogan, Richard Chai, Jonathan Saunders, Thakoon, Tracy Feith, Rodarte, Zac Posen and Tucker.
The collective will be available March 13, 2011 through April 10, 2011 at most Target stores and online at Target.com. We think this is an awesome idea, and great news for people who missed out the first time around. Click through from some of our favorite dresses from the past five years. We hope Target agrees with us!
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