Reed Krakoff is getting his house in order.
The company has tapped Harlan Bratcher, president and chief executive officer of A/X Armani Exchange, as ceo. He will also join the board of directors and report directly to the board.
Bratcher takes over duties formerly held by Reed Krakoff, who continues as creative director. Krakoff said Bratcher will partner with the board and him on developing long-term strategy for the brand, as well as lead the company and its executive team in day-to-day operations and ongoing development.
Last month, WWD reported that Krakoff would be undergoing a restructuring, with several staffers leaving the firm. Sources indicated that Krakoff will be placing more emphasis on accessories and widening his price points, with an increased focus on styles positioned below the luxury category. A new Reed Krakoff store, at 93 Greene Street in New York, is set to open on Jan. 23.
Krakoff is not discontinuing ready to wear but as part of the new strategy, it will not produce a fall-winter 2015 ready to wear collection and as a result will not hold a runway show during New York Fashion Week next month. The company will produce a fall 2015 accessories collection. It will hold a cocktail party during the New York shows to mark the opening of the new SoHo store.
Bratcher spent more than 14 years spearheading the A/X Armani Exchange business worldwide. He joined the company in 2001 as president and was named ceo in 2006. Earlier, he was chief marketing officer of Calvin Klein and, before that, senior vice president, retail development at Sony.
The company’s product range includes handbags, footwear, accessories, small leather goods and rtw.
A spokeswoman for Giorgio Armani had no comment on Bratcher’s successor.
Last May, Giorgio Armani took full control of his A/X Armani brand, acquiring the 50 percent he did not already own. At the time, he unveiled ambitious plans to turn the brand into “the first global Italian fast-fashion brand targeting a young customer whose DNA is strongly Armani.” A/X Armani has a strong foothold in the U.S., 270 stores worldwide and more than 3,000 employees.