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CIAO, GRAZIANO: Reed Krakoff, whose namesake collection is just hitting stores, already is going through his first major executive shake-up. Graziano de Boni, who joined the division of Coach Inc. as president last year, will be leaving the company to pursue other interests, WWD has learned. The company declined to comment Tuesday, but sources said a successor will be named imminently. According to sources, de Boni will be staying through mid-November to see through the next sales campaign. Krakoff launched his ready-to-wear and accessories brand during New York Fashion Week in February and the collection was picked up by Saks Fifth Avenue, Colette in Paris and 10 Corso Como in Milan. The brand’s first freestanding boutique, at 831 Madison Avenue in New York, was scheduled to open its doors this week but has been delayed. It is now expected to open on Sept. 7. Stores also are planned for Tokyo and Las Vegas.

This story first appeared in the August 18, 2010 issue of WWD. Subscribe Today.

MORE LONDON JEWEL THEFTS: De Beers and Omega boutiques located in London’s financial district were hit by a burglary Saturday night, during which thieves stole items with an estimated retail value of 380,000 pounds, or $596,000 at current exchange. The City of London police said Monday that the four suspects, wearing hooded tops and balaclavas, arrived at the gated Royal Exchange shopping courtyard in a red BMW around 10 p.m. Saturday, and then broke through padlocked gates before attacking the windows with sledgehammers. They then left in the same car. Detective chief inspector Steven Chandler of the City of London Police major investigations team said, “We are currently following a number of lines of inquiry, and I can reassure the public that every effort is and will be directed to bringing those responsible to justice.” De Beers said the company is “working closely” with the police and that its three other London stores remain open for business.

The incident comes weeks after four men convicted of robbing London’s Graff Diamonds on Old Bond Street of $64 million worth of jewelry last year were sentenced to a collective 71 years in prison.

ACT II: Gen Art could have a second life. The arts-and-entertainment company, which closed its doors in May and filed for bankruptcy protection over the summer, is in talks with several entertainment and media companies, as well as digital firms, about a potential acquisition. Asked when a deal might be consummated, Ian Gerard, chief executive officer and co-founder of Gen Art, said: “We’re shooting for mid-September.” He said he’s been talking to firms such as IMG, UEG, Hachette and Gilt Groupe. “Since we announced we were closing our doors in May, people have started calling us,” said Gerard, who plans to be involved with the new operation. Gen Art’s marquee event properties include Gen Art’s Fresh Faces in Fashion and the Gen Art Film Festival, as well as the company’s consumer and industry databases and Web properties. “We believe there will be a second coming of Gen Art. The brand has too much value, credibility and a loyal following among consumers and entertainment talent to just disappear,” said Gerard. Gen Art, which was in business 16 years, produced more than 100 events a year, ranging from weeklong film festivals to the Fresh Faces Fashion Show in Chicago to the Vanguard Art Fair during Art Basel Miami. It also hosted art receptions, film screenings and live music performances.

AMERICAN NO MORE: It was curtain call for Costume Institute’s “American Woman: Fashioning a National Identity” on Sunday, and the Metropolitan Museum of Art’s final tally for the spring exhibit must be giving museum executives a reason to pop open some Champagne. In addition to May’s gala benefit breaking records by raising about $9 million, the exhibit had more than 335,000 visitors — more than last year’s “The Model as Muse: Embodying Fashion” show, which attracted 297,000 people. According to the museum, Sarah Jessica Parker’s audio tour was a particular hit, and the pieces on show from the Brooklyn Museum Costume Collection now will go into the Costume Institute archive. The museum curators, Harold Koda and Andrew Bolton, already are working on next year’s fashion exhibit, but Met executives remained mum on details.

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