The US designer will not renew his contract when it ends in June 2013, in order to focus on his own-name label.
‘Reed Krakoff has served as president and executive director of Coach for over 16 years,’ chairman and chief executive officer Lew Frankfort said. ‘His contribution in evolving Coach from a house of American leather goods to a leading international accessories brand is immeasurable and we have great admiration and respect for Reed’s significant accomplishments.’
‘I am grateful to Lew Frankfort and to the members of the board for the support and the amazing opportunities I have been give,’ added Krakoff. ‘I have every confidence in the Coach creative team and thank them for their dedication.’
Coach launched in the UK to much fanfare in September 2011, opening a super-slick flagship on London’s Bond Street.
A search for Krakoff’s replacement is currently underway, WWD reports.
Talk about big shoes to fill.