with a group of world-class growth investors including Mark Ein, founder and CEO of Venturehouse Group LLC, Mitchell Rales, Co-Founder of Danaher Corporation and certain funds managed by T. Rowe Price Associates, Inc., including T.Rowe Price New Horizons Fund, announced today that they have acquired the Reed Krakoff business from Coach, Inc., in a management-led buyout. Under the terms of this transaction, Krakoff will be the largest shareholder as well as Creative Director of his eponymous brand.
Members of the investor group bring a combination of extensive track records in growing global businesses or investing in leading growth companies. They will provide significant funds to finance the long term growth of the global luxury brand based in America under Reed Krakoff’s creative control. Coach will remain as a minority shareholder. Valerie Hermann will continue in her role as CEO and will oversee all operations as well as the transition out of Coach, Inc. Mark Ein will serve as the Chairman of the Company.
“I am delighted to enter this new phase of the development of the Reed Krakoff business with such great partners. We have all come together with the same long term vision for the brand and for the future of American luxury and are excited to build a great company together,” said Reed Krakoff.
"Our investor group is thrilled to use our capital and extensive growth company experience to help Reed continue to build the next great American luxury brand," said Mark Ein.
About Reed Krakoff
Graphic, sculptural and born from a unique vision of modern style, the Reed Krakoff Collection debuted in February 2010. The brand is marked by a new approach to design, where luxury and utility are interpreted across a full line of ready-to-wear, handbags and accessories. Krakoff’s mission is to redefine American sportswear, marrying function and ease with the dynamism and vitality of contemporary visual culture. In three years the Reed Krakoff Collection has developed into a global brand distributed in 120 doors worldwide. Fashion designer, acclaimed photographer, passionate collector and patron of the arts, Reed Krakoff is creative director of the Reed Krakoff Collection. Drawing from over twenty years of experience designing for iconic American houses, Krakoff has elevated his New York-based label into a global brand. He has been honored as CFDA accessory designer of the year three times, most recently in 2012.