COACHING REED KRAKOFF

STELLA TENANT FOR REED KRAKOFFEvery year countless young designers decide to jump into the world of fashion and launch a collection.  The work is tiring, the effort is endless, and the result can be little more than a personal achievement that few will ever see.   Reason being, it is so rare a collection will become one of the lucky few to get national press.  Fewer still become a press favorite and are celebrated by the fashion bibles such as Vogue, Harper's Bazaar, or Elle Magazines.

In the rarest of instances, a designer collection is launched with great anticipation.  Anticipation from prestigious editors who can make a collection a household name,  and from the department store buyers who can make a collection available from coast to coast.  Very few will get that attention they are seeking from editors or buyers, and fewer still will be photographed and published, ordered and shipped.   The legendary names that take up page after page of glossy ads in fashion magazines are the fruition of years or decades of growth and accumulation of power in the industry.

Coco Chanel of course is the great example of a determined young woman who would see THE ICONIC COCO CHANELher dedication and commitment to succeed grow a small hat business into the most prestigious and commercially successful fashion brand in the world.  It took years, it took cunning, and it took desperation – all of which Chanel gave in spades.   It even took sleeping with a Nazi Officer when the Germans occupied Paris during WWII  in order to keep her famed suite at the Ritz Hotel.   Determined to say the least!  

Christian Dior is the rare example of a designer who, with just one collection set the fashion world on fire.   CHRISTIAN DIOROne show that would change the face of fashion and the life of the designer forever.   Of course the time was unique.   WWII had just ended and French fabric industrialist Marcel Bousec was looking for a way to restart his empire that had grinded to a halt as the Nazis marched across Europe.     Imagine today a billionaire finding a young and talented unknown artist and deciding to launch a Couture house for this person.   The word impossible comes to mind.   The investment was millions and included the famous building at number 30 Avenue Montaigne in Paris.  

Carmel Snow of American Harper’s Bazaar called Dior’s collection “The New Look” for his love of an exaggerated “WASP” waist paired with full skirts and a structured bust line.    Dior was bringing back all that Chanel and Poiret had thrown away.   It was a new day and a new way to look at femininity for women.   Of course, looking to the past – which is usually the best way to find the future.

Fast forward 60 years.DIOR COMPOUND - AVENUE MONTAIGNE, PARIS   Dior is one the most exclusively distributed fashion collections in the world.   Part of Corporate giant LVMH, Dior is designed by John Galliano and retains the true ideal and status that Mr. Dior created all those years ago.  Chanel also sits on the top of the industry.   Reinvented by ageless fashion character Karl Lagerfeld, who dances through decades of success as swiftly and oddly as an Emperor proudly marching through the city streets in his new clothes.   Owned by the same family that was able to make Coco Chanel a household name with her #5 perfume, the company is a great success and truly unique in the industry.   No other high fashion house has a more profitable distribution of RTW, Accessories, and of course – Fragrance.

Last year, a designer collection was launched in New York that has all the details of a fashion movie. REED KRAKOFF  A super successful fashion executive was to launch his own signature collection.  One he said was meant to become the luxury fashion collection of New York.   Reed Krakoff was the man that would raise the bar of what luxury meant from a New York designer.    No newcomer, Mr. Krakoff is the man responsible REED KRAKOFF SIGNATURE SATCHELfor making Coach a global giant with his ability to design “affordable luxury” as they say,  for women in countries all over the world.   The collection was a well known American Brand of somber leather bags favored by WASPy women in the 50's,60’s and 70’s.    Krakoff turned that dusty collection into  a massive success generating billions of dollars a year and an enthusiasm unseen before for a collection with a very affordable price point.   

One difference with Mr. Krakoff's signature collection launch and that of Christian Dior is that the fashion world was waiting with baited breath and swords drawn for the first images of Mr. Krakoff's work to be released.  Of course there was mixed anticipation for Mr. Dior's collection back in 1947 - but it was filled with a more optimistic hope that it would be great.  Paris, and the world for that matter needed to dream again and wanted to be romanced with a new vision of French couture after a devastating war.REED KRAKOFF SIGNATURE TOTE

Mr. krakoff created big shoes for himself to fill by announcing he wished to create the ultimate American fashion collection.   Adding to the anticipation, pressure, and rumor surrounding the launch was the news that Krakoff decided to scrap one entire collection early last year that he deemed not ready for the press.   In addition, Mr. Krakoff made the odd choice of bringing in Graziano De Boni as his acting President.   Mr. De Boni is a well known executive in the industry working with Italian companies.  While he has twenty plus years of experience, it has been that long since he had to report to bosses on the same side of the Atlantic.  Once a collection was eventually available for editors and buyers to shop in 2010, my sources tell me that the entire market was poorly organized and executed.  Surprising when you think that Coach is run like a well oiled machine - and the offices of RK are in the same building.  De Boni has since left the company.

Then there is the collection itself.    A mix of utilitarian items, the debut collection was a bit lackluster.    More pieces than a collection, I couldn't help but wonder why Mr. Krakoff didn't simply focus his attention on launching RTW for Coach?   after all, you have one of the most successful collections in the industry, with a network of your own stores throughout the world... Half the work is done.   All he would have to do is build and build item by item until he had a fully developed RTW business.REED KRAKOFF FALL 2010

At the moment, any fashion client used to the craftsmanship and savior faire of Hermes, Chanel, or Dior would be trading down in buying a Reed Krakoff bag.  The quality is just not there yet.   However, a regular Coach client would be trading up by investing in one of Mr. Krakoff's bags.  Reed could easily become the Karl Lagerfeld of the bridge world.   If he will become the equivalent of the rarified world of designer RTW remains to be seen.   
Like all good things, The RK collection needs time.   Already it has several attributes no other new collection has - a budget to run freestanding boutiques, an advertising campaign featuring a super model, and full blown runway shows in NY Fashion week.    All these things are huge achievements, if not ultimately the one Mr. Krakoff is after. 

Like all driven men, Mr. KRAKOFF is only competing against himself for any further accolades.   The fashion world will wait and see, as the industry loves to watch the climb of an underdog - even one they dismiss for years.   One thing is for sure, Reed Krakoff editorial is here to stay.   With such deep pockets, what publisher could resist it?   In the meantime, Krakoff is building a solid foundation with retail boutiques in NY, Tokyo, and Las Vegas; wholesale shop in shops at numerous Saks 5th Avenue stores around the country; and on-line at the coolest destination on the web for luxury- www.Net-a-porter.com.  We will all stay tuned to see how Reed Krakoff develops.