Reed Krakoff’s namesake label appears to have hit a snag. WWD reports that the brand is suspending design and production for an unspecified length of time. Its stores in Soho and at Woodbury Commons will continue to operate, while its Madison Avenue outpost will shutter soon. The brand will also continue to operate its e-commerce arm. In a statement, the company said it was planning to “refocus on the accessible luxury segment of the accessories market,” which would seem to translate to a lowering of prices. (Right now, one of Krakoff’s Boxer bags will set you back about $900.)
So what does this mean for the five-year-old label’s future? Per the statement, “The company is reviewing all strategic options for the brand, which may include production and distribution partnerships or a sale of the business and the brand.” One of WWD’s sources claimed that new products were still being planned, so it certainly doesn’t sound like Krakoff has given up the ghost just yet.