Ladies and gents, clutch your Reed Krakoff bags tight because it may be a while before we see anything new from the label. The designer has announced that he will be suspending production, so that the company can do a little recalibrating.
Not only will Reed Krakoff stop design and production, but it will also shut down its Madison Avenue location. “The company will suspend all future design and production, while continuing to operate its Greene Street and Woodbury Commons stores, as well as the reedkrakoff.com e-commerce site. In addition, 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,” the label said in a statement.
Krakoff won’t be shuttering his brand entirely, but sources say the label is looking for help from investors. New products are said to be on deck, but it looks like we won’t be seeing much of that until Reed Krakoff stabilizes.