Recently, I received a fashion question with the title “Oh No”. Talk about an attention grabber! My lovely reader wanted to know whether Reed Krakoff is really closing. Any fans of his out there? I for one LOVED the boxer tote. I currently have six bags by the former creative director of Coach, but I have always had to snag them on sale. Unless it was fifty or sixty percent off, I wouldn’t get too invested.
If you visited Reed Krakoff’s website over the past few months, you and I likely experienced similar emotional states. Forty percent off site wide?!? Sweet! As the percentages kept rising, I began thinking “oh no.”
So what’s the answer to the title of this post? Well, I’m going to give you the lawyer answer of “yes and no”. Huh? Reed Krakoff is “suspending operations” according to Women’s Wear Daily in order to determine a new path forward. So yes the brand as it stands today is going to bed, but the intention is to rebrand. While the details are uncertain at this point, it appears that Krakoff is looking to adopt a more “affordable” approach.
Several brands like Kate Spade Saturday, Jack Spade, and C-Wonder have made similar announcements in 2015. Even Gap has recently announced countless store closings. What’s the deal? With Reed Krakoff, I’m actually not surprised at all. You have the former Coach mastermind releasing bags at an average of $1,500 a pop. The craftsmanship is definitely there, but the price point? Not so much. The boxer tote does have old school Coach vibes, so the idea of paying hundreds and even $6000 for a python boxer just did not add up with consumers. While bags were flying off the shelves, Krakoff tried to accomplish too much too fast. Equivalents to some of the Krakoff bracelets selling at $800 a piece could be obtained for $20. While celebrities were beginning to sport some of Krakoff’s pieces, I think he was a bit overzealous. As I absolutely treasure his pieces, I really hope he can come back with a bang.
RIP! 😦
“A bruise is a lesson… and each lesson makes us better.”
― George R.R. Martin, A Game of Thrones
That sucks =( because that white bag in your pic is gorgeous!!
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I know such a shame! Hopefully they can release similar bags way cheaper. 😉
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Hope so! Keep us posted!
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I will!! I sure hope so too!
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Usually when designers re-brand themselves its always for the best as they realize the gap in the market and the potential expansion of their business. Your bags are truly gorgeous so here’s hoping that you are able to share some posts with all of us very soon in newer styles at cost efficient prices 😉
Xo. http://www.sonamnaiducreative.com
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You are so very right on this. The website is now featuring everything at 90%! Too bad everything is sold out!
I really love his bags. Good quality, versatile, and fun. I sure hope he can release equivalents at a MUCH LOWER price point. 😉
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And the anticipation begins … 😉
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great post
http://carrieslifestyle.wordpress.com
Posts online about Vienna, Dubai, Buenos Aires…
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Thank you, thank you!;)
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This proves that the item that is fit for the market is a winner and whoever doesn’t understand this concept is a loser but anyways there is a lesson to be learnt in each of these difficult situations that should be kept in our mind forever.https://lifestylebites3.wordpress.com
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Very well said. Many have made this mistake, and with the surge of failed attempts, hopefully lessons will be learned.
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Hey Beautiful girl! I love your blog and wanted to let you know I’ve nominated you for the Liebster award 🙂
Xoxo
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You are so very kind. Thank you so much love!!!
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Hey there:) I’m Nessa from ThatChicFashionBlog, and I just wanted to let you know that you were recently nominated for the Fashionista Award! You can check out the post your nominator wrote here: https://lifestyletalks.wordpress.com
Have an awesome day!
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Thank you so so much Nessa! That is wonderful news!!:) I will get to work on this, promise!
Hope you have a fabulous week love!
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Aw so glad to hear that! 🙂 and you too!
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Your posts are really well written and interesting I love it! You will love my blog check it out for fashion and summer trends! ohmymarlo.wordpress.com
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Thank you so much for the kind words. I will definitely check out your blog. 😉
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It really sucks that they charged my VISA card $100.00 for a skinny bangle, never sent it and of course, they’re phone is disconnected and no answer to my countless emails to Customer Service when it still existed….Rebranding doesn’t excuse stealing.
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That’s terrible, Karen! I almost ordered one of those bangles actually. I had ordered a luggage tag, which I also did not receive. I was disappointed to say the least.
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