Coach Fires 200 People, Will Probably Lose The Reed Krakoff Brand

It's a big, scary day for those at Coach, as the brand just announced that it cut 200 jobs, including 7% of its corporate staff, while restructuring the company. One main reason is due to a 12% drop in income during the fourth quarter, which was an unanticipated setback for a company that had been planning on rebranding itself more as a lifestyle brand, rather than merely a leather-goods retailer.
Additionally, Reed Krakoff also expressed plans to buy his eponymous label from Coach Inc. in anticipation of his 2015 departure as president and executive creative director. The sale should happen in the next few months. (WWD)
coach-opImage: via Coach
Advertisement

More from Politics

Watch

R29 Original Series

Watch Now
Documentary
Five love stories behind diverse, multicultural marriages.
Watch Now
Lifestyle
Life experiments, 5 days at a time.
Watch Now
Fashion
The style of subculture.
Watch Now
Beauty
Viral trends, tried and tested.
Watch Now
Documentary
From vibrators to lipstick, learn how your favorite products are made.
Watch Now
Documentary
Extraordinary, one-of-a-kind individuals
Watch Now
Documentary
The latest stories to watch.
Watch Now
Lifestyle
Inside the homes of millennial women — & what they paid for them
Watch Now
Comedy
Let's talk about sex, baby.
Watch Now
Documentary
Female artisans around the world
Watch Now
Politics
Made by and for smart, opinionated women.
Watch Now
Film
We helped 12 female directors claim their power.