Rumors of layoffs and an imminent restructuring at Reed Krakoff have been spreading in recent days, with several staffers, including vice president of merchandising and marketing Frederic Dechnik, exiting the firm.
This story first appeared in the December 22, 2014 issue of WWD. Subscribe Today.
Industry sources speculated that Krakoff will be putting more emphasis on accessories, particularly on a wider range of prices with an increased focus on styles positioned below the luxury category — a zone with which Krakoff is familiar, considering he made his name at Coach.
Addressing the rumors, a spokesman on Friday said, “A restructuring is in process that will shift the primary focus of the brand positioning and product categories. As a result of this evolving strategy, several positions have been eliminated and new hires have been added to better serve the needs of the brand going forward. Details of this expanded direction will be shared early next year.”
There are no plans to discontinue ready-to-wear. The spokesman added that a new Reed Krakoff store, at 93 Greene Street in New York, will be opening in mid-January.