Reed Krakoff Buys Reed Krakoff (Yes, Really)
In news that sounds like a Mad Libs excerpt from someone who doesn't really understand Mad Libs: Reed Krakoff buys Reed Krakoff. Reed Krakoff is thrilled to be working with Reed Krakoff after years of working with Reed Krakoff. Reed Krakoff throws celebration party for Reed Krakoff, invites Reed Krakoff. But, alas, it's reality, not Mad Libs (Well, except for the part about Reed Krakoff throwing a party for Reed Krakoff, but maybe that's also true. Who really knows?).
After threatening to reduce departing president and creative director Reed Krakoff's annual bonus by $3 million if an agreements on the sale of the Reed Krakoff label was not reached by July 29, WWD reports that Coach Inc. is selling the label to, you guessed it, Reed Krakoff. You sure showed him, Coach!
There has been a great deal of speculation as to where Krakoff will take his career after leaving Coach. The designer will remain president and executive creative director of the company until June 2014, where he will then be replaced by former Loewe designer Stuart Vevers. The purchase of his eponymous label might point to Krakoff's new point of focus... or maybe he just didn't like Coach bullying him.