Luxury, Democratized

Summary

Fashion People: "Luxury, Democratized" - Episode Summary

Release Date: April 25, 2025

In this engaging episode of Fashion People, host Lauren Sherman sits down with renowned designer Reed Krakopf to delve into his illustrious career and his influential role in shaping the modern American fashion landscape. From his early days at Ralph Lauren to his transformative leadership at Coach and Tiffany, Krakopf shares invaluable insights into the evolution of accessible luxury and the current state of the fashion industry.

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1. Introduction to Reed Krakopf's Career

Lauren Sherman opens the conversation by highlighting Reed Krakopf's significant contributions to iconic brands like Ralph Lauren, Coach, and Tiffany. She emphasizes his pivotal role in the rise of accessible luxury and sets the stage for an in-depth discussion about his journey and the industry's dynamics.

Lauren Sherman [15:19]: "Reed, welcome to Fashion People. We're excited to hear about your remarkable career and insights into the industry."

2. Early Life and Education

Krakopf recounts his upbringing in Fairfield County, blending modernist design influences from his mother with American antiques. His unconventional educational path includes stints at the Berkeley School of Music and the Museum of Fine Arts in Boston before earning a degree from Parsons in New York City.

Reed Krakopf [09:37]: "It was all very, very much a bit free form. It kind of suggested where I would end up in my career with this cross-section of business, fashion, creativity."

3. Beginnings at Ralph Lauren

His first professional experience was an unpaid internship at Ralph Lauren, where he immersed himself in the vibrant New York fashion scene of the 90s. Krakopf highlights the camaraderie and the learning opportunities presented by working alongside future industry giants like Tory Burch and Vera Wang.

Reed Krakopf [15:48]: "There was a real sense of camaraderie around New York fashion. It was really, you know, the American shows, the Italian, British, French. It was a major hub."

4. Transition to Tommy Hilfiger

After Ralph Lauren, Krakopf joined Tommy Hilfiger as Design Director, playing a crucial role during the brand's expansive growth. He credits Tommy Hilfiger for pioneering the integration of popular culture and fashion, setting the foundation for accessible luxury.

Reed Krakopf [25:04]: "It was about the democratization of luxury, which fit the American narrative really well."

5. Leadership at Coach

In 1996, Krakopf took on the role of Creative Director at Coach, then a $500 million public company owned by Sara Lee. Under his leadership, Coach transformed into a powerhouse of accessible luxury by outsourcing production to Asia and launching iconic collections like Signature C and Ergo.

Reed Krakopf [36:23]: "It was a redefining moment, certainly in Hambocks [sic] one."

6. Launching the Namesake Line

Krakopf spearheaded the launch of his own line under the Coach umbrella, aiming to infuse design credibility and differentiate the brand amidst the rising tide of designer labels. While the venture initially struggled with overlapping customer bases, it marked a significant push towards building a recognizable personal brand within a larger corporate structure.

Reed Krakopf [42:47]: "Accessible luxury was invented as an outgrowth of understanding how to grow a business."

7. Tenure at Tiffany & Co.

Post-Coach, Krakopf joined Tiffany & Co. as Chief Artistic Officer, introducing innovative concepts like "Everyday Objects" that blended functionality with high craftsmanship. His tenure lasted six years, culminating with the LVMH acquisition, after which he sought new ventures aligned with his passion for design and craftsmanship.

Reed Krakopf [63:17]: "The Everyday Objects piece was fascinating because it led me to a place in Tiffany that was always there, but I didn't realize it yet."

8. Current Endeavors and Philosophy

Today, Krakopf collaborates with investment groups to revitalize brands like John Hardy, focusing on enhancing design aesthetics while preserving craftsmanship. He emphasizes the importance of authenticity, transparency, and a singular design focus in today's competitive market.

Reed Krakopf [76:59]: "Authenticity is more important than ever because transparency is everywhere. Everyone knows everything."

9. Reflections on the Fashion Industry

Krakopf reflects on the transformations within the fashion industry over the past three decades, noting the shift towards specialized brands with a clear point of view. He critiques the overuse of sustainability as a buzzword and advocates for genuine brand identities that resonate with consumers on a deeper level.

Reed Krakopf [80:18]: "Those brands that embrace their unique point of view in the face of skepticism are the ones that are going to succeed."

Conclusion: A Legacy of Accessible Luxury

Reed Krakopf's journey through the echelons of American fashion underscores a legacy of making luxury accessible without compromising on quality or craftsmanship. His pragmatic approach to design and business continues to influence emerging brands and shape the future of the industry.

Lauren Sherman [80:47]: "Reed, I love this conversation, and I feel like everyone needs to listen to this who's in the business and who wants to do something interesting."

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Notable Quotes:

• Lauren Sherman [51:19]: "It feels like Coach was the center of accessible luxury."

• Reed Krakopf [44:39]: "Accessible luxury was invented as an outgrowth of understanding how to grow a business."

• Lauren Sherman [53:41]: "You deserve to be celebrated."

• Reed Krakopf [77:38]: "You just have to believe in what you do and stand for something."

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This episode offers a comprehensive look into Reed Krakopf's impact on the fashion industry, providing listeners with a nuanced understanding of the strategies behind building enduring and beloved fashion brands.

Transcript

[Alex Asulin]

Hi, I'm Alex Asulin and I'm inviting you to listen to Asulin's official podcast, Culture Lounge. For the last 30 years, Asulin has created books at the center of culture and luxury, covering everything from wine and watches to fashion, travel and Formula One. Now we're inviting you into our world through a new and exciting medium. Join me on Cultural Lounge, where you will hear intimate conversations with icons like Erin Lauderdale, Linda Fargo, Mario Carbone, curators from Sotheby's, and the world's best sommelier all gathered like old friends at a beautiful bar, discussing their deepest passions, sharing stories and giving us their best advice. It's like eavesdropping on the most interesting conversation you could ever imagine. Culture Lounge is available wherever you get your podcast. Tune in now to be inspired and learn something new.

[Reed Krakopf]

I've been counted out, dismissed, passed over, told I'd never be a golfer with just one arm. But the only thing that feels better than proving people wrong is out driving them. I'm 14 year old golfer Tommy Morrissey and I want to be remembered for my ability as a champion partner of the Masters. Bank of America supports everyone determined to.

[Lauren Sherman]

Find out what's possible in golf and in life. What would you like the power to do?

[Reed Krakopf]

Bank of America bank of America NA.

[Lauren Sherman]

Member FDIC Copyright 2025 bank of America.

[Reed Krakopf]

Corporation all rights reserved.

[Lauren Sherman]

Foreign welcome to Fashion People. I'm Lauren Sherman, writer of Puff's Fashion and Beauty Memo Line Sheet and today with me on the show is designer Reed Krakopf. We are discussing his truly remarkable career from Ralph Lauren to Coach to Tiffany, as well as the rise of accessible luxury and the state of the industry today. Before we get going, I wanted to remind you that if you like this podcast, you'll definitely love Puck where I send an email called Line Sheet. If you're a fashion person, you get that reference. It's an original look at what's really going on inside the fashion and beauty industries. Line Sheet is scoopy, analytical and above all, fun. Along with me, a subscription to Puck gains you access to an unmatched roster of experts reporting on powerful people and companies in entertainment, media, sports, politics, finance, the art world and much more. If you're interested listeners of Fashion People get a discount. Just go to Puck News Fashion People to join Puck or start a free trial. Happy Friday everyone. I am back. I am so happy to be back. My family and I had a great time in Japan. DM me for details or whatever. I don't know. I don't want to talk about it, it was a great vacation. I'm in Los Angeles for a few days before we hit the road again to see some extended family on the east co. I will be in New York late next week. So I hope to run into you out and about this week on Line Sheet, we talk tariffs, we talk sacks, we talked Levi's. There's so much going on right now. And I implore you to subscribe to Puck to stay up to date. Sarah Shapiro, our retail reporter, and Rachel Strugguts, our beauty reporter, are really on it and doing great work. And if you want the scoop, you got to, you got to sign up for Puck. What I will say about everything that's going on in the fashion and luxury industry right now is that it's the worst it's ever been. The market really didn't exist in its current, current state pre 2008. So I, I can't compare this to anything because it is different. It's definitely different. I mean, everybody always thinks they live in the worst time ever. So take that for what it is. But it's tough right now. People are not sleeping and, and that's not good. But what I will say also is that there's always another bend in the road and you know, there are still people with money to spend and they are still spending it, especially here in the US and people are still investing in this market. In LA this week, the bridal designer Danielle Frankel just opened a store of an item on on her business. In Thursday's line sheet, Jacquemus also opened a store. I checked it out on Thursday night. They had tons of people come in for, for the opening. It was a big deal. So it's not, you know, it's not over, that's for sure. Things are going to be okay. But the indus fashion industry is really interesting right now. I hope you enjoy this conversation with Reid who had a lot to say about that and I just love talking to him. I hope that comes through in the convo. It was one of my favorite interviews I've done for fashion people. So I hope you enjoy it. Reed Krakopf, welcome to Fashion People.

[Reed Krakopf]

Thank you for having me. It's been a long time. I've been anticipating talking to you.

[Lauren Sherman]

I'm so looking forward to it. What'd you have for breakfast this morning?

[Reed Krakopf]

So I'm very boring when it comes to breakfast. I have the same thing every morning. Rye toast, homemade peanut butter and just plain black coffee.

[Lauren Sherman]

That sounds good. I, I'd say you're in the top Five of breakfast.

[Reed Krakopf]

I appreciate that. Thank you.

[Lauren Sherman]

So the, the peanut butter, what would you say that breakfast says about you as a person?

[Reed Krakopf]

I'm definitely a person of habit. I have the same thing almost every day. Simple, authentic, straightforward. I think those, those are pretty good adjectives, I think, to describe that.

[Lauren Sherman]

Yeah. And also sort of describe the American fashion industry, which is a huge reason I wanted to speak to you because. Or the American. I mean, you, you're in beauty, you're in hard luxury too, like American design. You have been integral in the last 30, 40 years of, of that world and you've helped shape what like the American esthetic is. And so it's. I'm so excited to get into your whole career. We don't do the journey a lot, but I wanted to do it with you and. But to start, where did you grow up? What, what's your background?

[Reed Krakopf]

So I grew up in Fairfield County. Sort of think of the preppy handbook era. And I actually think the author, Lisa Birbach was from somewhere around where I grew up. And so I grew up in sort of a quiet aesthetic that was very much. It was kind of a combination of two things. My mother was a decorator. She had a very kind of modernist take on design. We had like a Barcelona table in the living room and knoll sofas and like this cobalt blue leather and. But then there was, then there was a mix of sort of American antiques. I say antiques, that's a fancy way of putting it. American looking antiques, I should say. And it was, I guess it was really informative of, of my aesthetic from really early days of, of modernism mixed with antiques. But also this kind of love of artisanal design as well. We had some like Shaker type furniture and I would say more utilitarian pieces in the house. And it was, I'm painting a very romantic picture. It was, it was a night's house. It was nothing. It wasn't extraordinary furniture. It was just more the references that you think of the sort of, you know, white brush painted Queen Anne mirror, kind of things like that that were simple, straightforward, but definitely that mix, that mix of those two poles, Modernism and Americana and American design.

[Lauren Sherman]

Did you have a connection? I feel like I read this on probably on Wikipedia or some bio of yours to Pittsburgh, because my third grade teacher, the, My favorite teacher ever was this guy named Joel Cracoff and I grew up in Pittsburgh. I don't know if I was hoping that we would talk and you would say he was my uncle or something like that.

[Reed Krakopf]

So almost he Might be my uncle. I actually don't know this person, but my father and mother both were born in Pittsburgh.

[Lauren Sherman]

Oh, interesting.

[Reed Krakopf]

My father and mother met at Penn State.

[Lauren Sherman]

Okay.

[Reed Krakopf]

And got married and then moved to Cambridge. My dad went to Harvard Business School.

[Lauren Sherman]

Okay.

[Reed Krakopf]

So they were in Pittsburgh their whole lives, actually. So I'm sure there's a relationship.

[Lauren Sherman]

Oh, I'm sure if you looked up on Ancestry.com he was truly my favorite teacher ever, really special to me, and then passed away only a few years after. He, I. He taught me, but was. Was amazing. So I have a fondness for your surname.

[Reed Krakopf]

Oh, that's nice. That's nice.

[Lauren Sherman]

So how did you, like, get into design? Did you go to college for, for, did you study design in college? Did you go to college at all? Like, what was your path into working in New York in, in fashion?

[Reed Krakopf]

So I did a lot of things from high school through college, a lot of them not successfully. I went to Berkeley School of Music in Boston, first semester studying jazz till I found out I was, I think, the worst in the entire school. Berkeley is like the place to go if you're studying jazz. I was definitely not meant to be be there. I studied at school Museum of Fine Arts in Boston, a great fine arts school. They had a joint degree program with Tufts University. And my parents basically said, if you don't go to a liberal arts school and get a degree, we're not going to pay for art school or let's say fashion school, like Parsons. So I ended up getting a degree from Tufts in economics and art history, strangely, and then finished my fine art degree at Parsons in New York City. And so it's funny when I think back, it was not on purpose, of course, and it was all very, very much a bit free form. It kind of, it kind of suggested where I would end up in my career with this cross section of business, fashion, creativity. And I could have never predicted that, but in fact, it pretty well describes where I ended up 30 years later.

[Lauren Sherman]

And what did you want to do? Did you have any idea or were you like, I just want to be in these worlds, you know, I don't.

[Reed Krakopf]

Think I was pulled together enough to know what I wanted to do. I know that, you know what it was. I think I wanted to find something that I thought I could have, I was good at. Of course, I had a lot of things I was not and found out. And I think it was a positive thing, failing really early in my career, trying a bunch of things and just not succeeding, as opposed to spending 10 years and finding out, finding out, maybe this isn't the thing for me. I loved, always liked fashion. I love the idea of the sort of cultural map that fashion and art and movies and travel and even politics and sort of a social mood all informed each other. That was always, just intuitively was interesting to me. I was never a purist in any of those things. And in a strange way, it kind of cobbled together a job that was all of those things and none of those things. In a way, I wasn't good enough, I think, at any one thing. But I was pretty good at piecing those things together to understand what ultimately became a job which didn't exist when I was at Parsons. I mean, it was really the whole idea of a creative director that was across the front end of the business, was on the board, at least the internal board of the company, dealt with public company issues. Wall street, things like that really started only with Tom Ford at Gucci. It did not exist before that. I mean, you know that very well. You're obviously super informed on the history of all of this. So in my early days I was just sort of naturally trying these things. And it was funny, my first job out of Parsons was working for Narciso Rodriguez.

[Lauren Sherman]

Oh, interesting.

[Reed Krakopf]

And I learned literally in a couple months what I could never be. And it was probably the best thing that happened to me in my career, which was just being in the shadow of someone who's so he's, he's such a designer's designer. You know, he sketches like a fine artist. You know, I happen to have a real love for illustration and over the years collected illustration from like the turn of the century up through people like Mats and Philip Bloch. And I don't name any of these people that were great illustrators. Boucher, Rene Boucher, people like that. He sketched like they did. He draped like the best pattern makers and he cut and sewed and he did everything better than I could ever hope to do. And I kind of realized this is not. I am not a pure designer. I'm just not going to be this person I could never hope to be. And after that, pretty soon after that, the world started shifting towards this idea of creative director. And I really, I'm not saying it to be self deprecating or sort of underplay it, but it was really an accident that I ended up at the right place at the right time for what I was good at. And you know, that was really the beginning of my career. When I went to Ralph Lauren was my first real job Narciso. I worked for him when he said Anne Clyde.

[Lauren Sherman]

Oh, wow.

[Reed Krakopf]

Around the time when he was about to do the famous dress for Karen Bassett when he was at Calvin. And I just. I realized that's just not going to be my. My destiny. I'm not going to be successful. And then ended up from that job, which was an unpaid internship. And do they do those anymore? I don't think they do.

[Lauren Sherman]

I think that they are not allowed to.

[Reed Krakopf]

I came home very excitedly and told my dad. I called him on the phone and I was like, I got the job. And he was like, that's fantastic. How much do they pay you? And I said, nothing. He said, that must have been hard to get. That was. That was his. His take on it. But anyway, so I'll let. I'll stop there.

[Lauren Sherman]

And it's fascinating. So how did you. That's really interesting that you worked for Narciso at Anne Klein.

[Reed Krakopf]

Yeah, yeah.

[Lauren Sherman]

What was it like in New York in the 90s at that time? Like, what was it like? Because you were in the middle. I've interviewed a few people who were like, really in the middle of this particular scene. What. What was it like being in fashion then, being around the people on the scene at that. In that moment?

[Reed Krakopf]

I mean, it was super interesting because it was really. There was really a New York fashion scene. You know, you would go to 7th Avenue and there were. There were like three buildings. There was one around the corner where Calvin is still 205 West 39. And then if you go around the Corner, there were two buildings. I think it's 550 and 570. And everyone. You would go into the elevator and every designer was there. It was Bill Blass, Carolina Herrera, Donna Cara and Ralph Lauren. Everyone was in those buildings. There was an amazing community and amazing excitement around New York fashion. It was a place where you could really think of spending your career even working for other people, working for different companies. There was a real sense of camaraderie, I think, around New York fashion. It was really, you know, the American shows, the Italian, British, French. It was really a major hub. And it had its own style and its own feel. You know, Isaac was there. Mark, of course, was there. And it was pretty amazing to be there. And I was, you know, I was an assistant at Ralph Lauren at my first job. And at the time, what was interesting is a lot of my co workers were people that you might know or you would know today. Tory Burch was there when I was at Ralph. Vera Wang was there when I Was there. Tom Barvados was there. Towards the tail end. Quite a few people were there that ended up. It was really like the place to be if you wanted to sort of learn from the best, learn how to develop. I really learned how brand developed. You know, I was a lowly assistant, but I got to at least see and be part of how they approached all these categories. I mean, it's hard for people to imagine now, but it just didn't exist. The whole concept of lifestyle, you know, home and shoes and sunglasses and handbags and of course, ready to wear was the hub. So it was very different. It was very much the antithesis of today, I would say, in terms of brands. I mean, then it was a world of today, I feel like. And it's just my opinion, I feel like it's very singular today, either by product category, where people do one thing really well, or it's a point of view that is. It's pegged on something that's the core business and then their accents around it. In the old days, it was very much about licensing, a lot of licensees. I mean, I think I launched 20 licenses at Tommy. I mean, between shoes and bags and belts and fragrance, you know, we launched Tommy Girl and Tommy, and there. There was just so much expansion in that way. So it was. It was like the beginning of that. It was the beginning of global brands. You know, there was no such thing as multinational fashion houses, really. I mean, people were in. In the United States and maybe a bit in Europe, and so relatively small in terms of what you see today compared to what you see today.

[Lauren Sherman]

Yeah. And I was actually talking to someone last night about the way that the European houses would have stores on Rodeo or whatever. It would be like a store owner's name. Valentino by some store owner's name, or a liar by some store owner name. So even that was partnership. There was no. No globalization as you were launching. So did you move from Ralph to Tommy?

[Reed Krakopf]

So I was at Ralph for four or five years, and I loved being there. It was. It was a really. It was just an amazing place to be. I got an amazing education. I mean, it was at a time when Ralph was at 40 West 55th street, which was. It sounds crazy, but it was an apartment building, and Ralph started and I don't know how many apartments, but they combined a few apartments at the beginning, and then more and more and more, they took over more space in the building, but you would still see, like, you know, the woman or man in 4C walking their dog during the Day in the elevator. And so it was a really. It was a really, like, family environment. And we had lunch every day together. And it was. I loved it. I mean, I was really fortunate to be there. I loved. I loved the time I was there. I loved what I'd learned. And I think I found I never thought about again, what do I want to do when I grow up? I mean, that was the greatest gift I was given by them that I just was. I never thought about again. I just. I loved it. And I went, Tommy. Because Tommy was quite small then. He was about an $80 million business. And a bunch of people, probably not people that people would know today, had gone to Tommy executives, the CEO, I think, the head of visual manufacturing people, to work for Tommy. And I got a call, and they offered me the job of design director, which was a big promotion for me. And that was the beginning of my time with Tommy Hilfiger, which was incredible. It was during the moment where sort of popular culture music, hip hop, urban style, more personal style, was really projected into the fashion world. And, you know, Tommy was the first to embrace that. He was the first to really be different and to be eclectic and to be surprising. I mean, think of, you know, we had Tupac in one of the fashion shows. We had, you know, all kinds of amazing musicians and artists and entertainers. And, you know, Tommy worked with people like Lenny Kravitz and David Bowie. And it's just. It was an incredible time to be there and go ahead. Sorry.

[Lauren Sherman]

When. I was just gonna say, when you went there, was it like you going to the enemy? Because he was sort of the disruptor.

[Reed Krakopf]

He was. But not yet.

[Lauren Sherman]

Okay.

[Reed Krakopf]

I was there when he was just. Why would you go there?

[Lauren Sherman]

Okay. Interesting.

[Reed Krakopf]

I would say two years later, he started to really develop a lot of momentum. That famous moment on SNL when Snoop was wearing a Tommy Hockey jersey and performing. And that image is still, you know, an image that people associate with that period. It became a phenomena, I would say, two, three years later. And it was kind of incredible that, you know, he offered sort of an alternative to his sort of uptight, segmented kind of point of view of the world. Tommy was, you know, playful and a bit irreverent. And, you know, it started with just the way people wore clothing. He responded to kind of how people were wearing his clothing and integrated into the design process, and it was like this reciprocal thing. It was quite amazing. I don't think it had. I mean, you're more well versed in that world than I am. But I don't think it had happened before this sort of popular culture and fashion intersected in such a complimentary way.

[Lauren Sherman]

No, and not at that with that intent. There were a lot of people in the 70s. Sarah Shapiro, my colleague, just did a piece on urban. And I was thinking about the start of a lot of those smaller stores, and they had them all over the country. And the Gap in urban are the ones. Urban Outfitters are the ones that sort of survived. But Tommy had. What was it called? People's Place. And I believe it was in upstate New York. And it was a similar thing. Like, they all sold. It's funny because I think that the shops that they all started are probably similar to things that exist now. It was like a mix of vintage and Levi's and the Richard Hayne and Judy Wicks in Philly. They sold plants. But I think what Tommy did that is he really saw the rise of the star designer in a way that. And it's interesting that Karl Lagerfeld, he ended up investing in Karl Lagerfeld's business since he was like the real first star. But it is. I think he saw that that was where it was moving. And he saw, like, culture, like all these people now, the last 15 years, that really tap into the. The pot, Demna and Virgil and all those people. He was sort of the first person to identify that it was all in the street coming onto the Runway. And all of that is. Is so. Feels like table stakes now. And. Yeah, that must have. Must have been interesting to be the person sort of directing that and making that come to life.

[Reed Krakopf]

It was, in a funny way, I mean, the way it kind of happened in terms of my role. There was. I mentioned Tom Ford and Gucci, I think. I don't know the exact dates, but it was very. There was a moment when every brand wanted a creative director. Because of the success of Gucci, everyone thought, this is the magic formula. We need a CEO and a creative person. They're going to be partners, they're going to work together on everything. One will run the front, one will run the back, and let's say, the entirety of it, the CEO. And that must be the way to run a business. And what's interesting is it was that way for a moment. And that's the only reason, honestly, that I was made the creative director was because I was kind of the person who was closest to that in skill set. You know, I was styling the photo shoots and I was setting up the showrooms, and I was a designer. And that's where how I got from being design director to creative director. And that was really the beginning of that role. And that was sort of the next 20. Last 20 years of my career, 25 years have sort of started with Tommy and that kind of expansion of what a designer could be or creative could be. It's funny, today doesn't really exist anymore. It went through a huge rise and I don't think it really exists. I mean, now it's kind of going back to more clothes, you know, the ready to wear, maybe the accessories. Probably not if it's a big brand and then maybe advertising, but probably not if you're lucky. If you're lucky, exactly.

[Lauren Sherman]

But they're. They fear it now.

[Reed Krakopf]

Yeah, well, it's. It's a. You know, what did I learn over all those years is that to be at the level of the true. What I call fashion designers. Designers. Designers. It's. It's rare that they're able to have the time, the space, the mental space to deal with stores. The way. Think of the number of stores, the scale of stores, the cost these days. Deal with that. Deal with the marketing piece, deal with the intricacies of talking to a consumer through all these different touch points. It was so easy in those days. There were magazines, any catalog. There was no Internet. There was no. There was very little subtlety to, I would say the marketing mix of, you know, paid media, organic media, social. I mean, it's just. It's incredibly, for me, at least, incredibly intricate today. So I think it was a different time and the world moved a lot slower, obviously when there was no Internet. I think today it'd be really hard to run a big brand and run all those aspects in a convincing way and be on the board of the company. It'd be tough.

[Lauren Sherman]

Yeah. It feels like Eddie Slimond might be the last one.

[Reed Krakopf]

Yeah, I think you're right.

[Lauren Sherman]

And maybe look like whatever happens with Jonathan Anderson at Dior, like, he clearly is going to have more. And at low, he clearly had a lot of influence and was very collaborative. But that is. I mean, Dior's a 10 billion. The number of employees that they. And you probably had how many at Coach when you.

[Reed Krakopf]

You probably had 10,000, maybe.

[Lauren Sherman]

I don't know. It's wild, but it does feel like it got to be too much and now it's dialing back. But how did you end up at Coach and what did you think was. Did the family still own it when you went there?

[Reed Krakopf]

I was at Tommy for about five years, and by the end of my Time there. I think my. What I really was interested in and what the company needed were two different things that actually. Tommy fired. We're good friends today. I talk to him all the time.

[Lauren Sherman]

But it was the. It was the best thing that ever happened to.

[Reed Krakopf]

It kind of was. I, I. You couldn't have convinced me at the time. It was, but it, in fact was. So I actually left Tommy, or he asked me to leave, and I ended up.

[Lauren Sherman]

Why did you. Why did it happen?

[Reed Krakopf]

Well, I think I just was. Then I made it pretty clear that I was more interested in probably the more esoteric parts of the business. We had really pretty. I think, pretty exciting presentations, shows. We had this all music integration, entertainment. It was amazing. I guess I just wasn't. I wasn't contributing enough to the core of the business.

[Lauren Sherman]

Got it.

[Reed Krakopf]

You know, it was entirely my. On me. I just got distracted and just wasn't spending enough time on what the brand needed. I mean, that's something that I'm sure talking to so many people in this world, you see there's this inverse relationship between brand growth and designer success. And often I found, and I found a lot of designers I've seen go through this. What the brand needs is what you don't want to do anymore because of your lifestyle, because of your success, because of your ego, whatever it might be. It's. It's. You really have to remind yourself of what got you there. And, you know, I always say to designers, at some point, you gotta pay the bill. You can't just make pretty clothing put on the Runway. It just. You won't be there in six months or nine months. It's just the fact. So I think at that time, I hadn't learned that well enough, and I was just spending too much time on things that weren't important. And he was absolutely right to say, you know, I think you're done. So I spent some time, actually moved to Milan for a hot second and worked. I was the creative director of Trisardi.

[Lauren Sherman]

Oh, interesting.

[Reed Krakopf]

Which was amazing. I mean, I had in my mind that it was going to be, you know, the Italian Hermes. And I loved the brand, and I'd grown up really admiring it. While I was back in New York, I got a call from a headhunter that said, I just want you to meet the CEO of Coach. I know it's not on your list. I know you're going, you're moving, but just do it as a favor to me that he can meet someone who's a creative person who also understands business. So I met Lou Frankfurt and that was it. We spent the whole day together. It was supposed to be an hour meeting. We ended up visiting stores and had dinner. And it was just one of those moments where someone saw something in me that I didn't see in myself. And he was sure I was the right person to partner with him and lead Coach to the next chapter. Coach was about 500 million at the time it was public. Sorry. It was owned by Sara Lee. Okay.

[Lauren Sherman]

Oh, yes.

[Reed Krakopf]

It had been sold by the family, the Kahn family, to Sara Lee in like the late 80s. And he just had this idea that Cote had hit a wall. He knew that Cote had hit a wall. This idea of designer brands and logo handbags, you know, were rising. He know Gucci, lv, Fendi, of course, Chanel in popularity. And there needed to be something else. The brand needed to reinvent itself. Otherwise it was just not going to exist pretty soon after. So I ended up at Coach.

[Lauren Sherman]

What year did you land there?

[Reed Krakopf]

96.

[Lauren Sherman]

And. Oh, wow. So. So that was also the time of the rise. Kate Spade.

[Reed Krakopf]

Yes.

[Lauren Sherman]

All the European brands.

[Reed Krakopf]

Exactly.

[Lauren Sherman]

That's amazing.

[Reed Krakopf]

It was. It's hard again, it's hard. I hate to say it so many times, it makes me feel old, but it's hard to imagine that if you were to go on a multi brand site, Pick1 Today, 95% of the handbag companies wouldn't exist. Wouldn't have existed. Literally 95%. I mean there were the big five or six. And it's actually, we'll get to it maybe later. It's similar to the jewelry business today. But there was, there were, and you mentioned shops that sold all the brands. There were handbag shops, that's what they sold. And some was generic and some was private label and some was an Italian brand that was made up. It was pretty different. So anyway, they were getting killed. And Kate Spade, if I heard the name Kate Spade one more time my first few years, why can't we be like Kate Spade? Why can't we be like. But it was before Tory, before Michael, before all these brands. So the journey began of taking the company from a vertical brand, a vertical manufacturing group. They owned all their factories, Puerto Rico, Mexico, New Jersey and Florida and outsourcing. And it was entirely Lou's idea. And Coach was the first to make bags offshore. There were no such thing as designer bags in Asia. And when I say designer, I mean any, any designer bags. Kate, Coach, any of those bags. They were all made. They were all made in the US or some related area. But Nothing. There was no such thing as what there is today without getting into it. It's obviously vast, what's made in that part of the world at every price point. So he took a big chance. Everyone told him, you're crazy. Coaches about Made in America. It's a really great moment. I think about one of those times where everyone says, don't do it. And he had a vision that this was his whole idea, was people have a lot of reasons to buy things. The top five things. Country of origin isn't one of the top five. It's, I love it. The cost is reasonable. It works for me, and I like the brand. Those are the kind of attributes. And he recognized that and really changed entirely the accessories business. I mean, now, as you know, without getting into names, everybody makes product there. Everybody.

[Lauren Sherman]

And this has been the case, what, for 20 years almost now they'll make certain items there and then assemble in Europe. So it says made in Italy. It's. It's. You're right. Like, that's where the center of the. The manufacturing world is.

[Reed Krakopf]

It can say designed in France, designed in Italy. Consumers think that means made it. It's the. The laws that change so many times, and they're so different around the world. But, you know, that was really. That was the unlock to accessible luxury. It really was. I mean, we then launched the signature pattern, Signature C, which is obviously still a big piece of the business today. A bunch of new collections. Ergo, Hampton, soho, also collections they still have today on site. They've done an amazing job evolving the brand long after I left, but those things still exist. But it was. It was a redefining moment, certainly in Hambocks one.

[Lauren Sherman]

I think about Coach a lot because I was in High School, 1996-2000, and I remember my mom really revered Coach bags as the bag that you would buy, like a graduation gift bag or the kind of chic, a little bit more wealthy women at her office, she worked in a medical office or whatever would have a Coach bag. How did you, like, take what was already there and make it a fashion item as well? Like, the logo is one part of it, but that isn't the only thing.

[Reed Krakopf]

Yeah, you know, it's. It's. It's funny because it's something I've gone through a couple times now. And, yeah, it always seems to be the same process of kind of understanding why is this brand popular? Why was it so popular and making sure to embrace that and to kind of get rid of the static around it. And a lot of it is what sells really well. A lot of it is what was popular in the market at the time. And shedding those things that don't seem to be core to the identity. And then thinking like, you know, I always think of brands like people. There are things you will do, things you won't do, things that are not believable, feel phony, don't feel real. You know, what is. What is the next chapter of the brand that's believable? And it can be pretty far away from where it was, but it has to be somehow connected to, let's say, the essence of what the brand is. And with Coach, it was quality and craftsmanship. And, you know, Bonnie Cassin, who was the only designer in the 70s who did the. The duffel she invented. Invented. She brought the turn lock to fashion. She had a convertible, and the convertible was. The COVID was latched down with these turn locks. And she was super innovative and super modern. And so Bonnie was a big inspiration. You know, the innovation of taking leather that was made for baseball gloves, you know, that it's kind of a funny place to start for a handbag. But it was very form follows function. You know, that was a rhythm that kind of informed my whole time there, you know, that it wasn't. And I always say, you know, about American design, to me is not about decorations, about. The decoration comes from the details of the construction. The decoration comes from, you know, the. The handling of materials and craft. It's not a applied thing. And I think for Coach, that was very much the aesthetic. Everything had a reason for being, you know, everything that was decorative had a functional, at least a history to it. When you think of, like, American, the bags, you think of as American, like a sail bag and a laundry bag and a garden tote and a LL Bean bag. I mean, they're all functional bags. Yeah. And that was kind of the touchstone. It was, like, rooted in functionality and rooted in material and construction, not decoration.

[Lauren Sherman]

When did it really, like, click and start working?

[Reed Krakopf]

That's a great question, because it's been consistent my whole career. It was about two years in, and people are getting tired of hearing it's going to be more modern, more relevant to consumers, all those things, because it doesn't mean anything. To the point where literally, myself and the CEO just had to say, please stop asking when businesses going to get better. You don't have to believe it's going to get better, because business was awful when I started. Really, really terrible. It was about two years in, and it was, ergo, and Hamptons. And there were two collections that I could. And I still do this today. If I walk into a meeting and I put something on a table and nobody says anything, it's probably not great. It's not a good sign. If I walk into a room and put something on a table, a handbag or shoe or piece of jewelry, and everyone wants to know when they can get it. When is it going to be launched? You know, can we. Can we fast track and get into stores early? Then? You kind of know that you don't have to describe why it's good. They just know it intuitively. So that intuitive moment came about two years in with those two collections. And then after that, I honestly don't think. I don't think people had to ask themselves. I don't think that the design team understood, the marketing team understood, the business team understood. And then with those collections, you know, with Ergo in particular, we couldn't make enough fast enough.

[Lauren Sherman]

I am. I just googled them. Google the Ergo. I'm getting one there. It's perfect. It's a perfect back.

[Reed Krakopf]

So that was. That was the very first moment that everyone. Because it's leather, it's a bound construction, it's simple, it's very American, it's very utilitarian, but it has a style to it. So that was the first moment where everyone kind of said, okay, I get it. I see where we're going. I've never felt like this before. It's like, you just get me. I feel like my true self with you. Does that sound crazy? And it doesn't hurt that you're gorgeous. Okay, that's it. I'm taking you home with me. I mean, you can't find shoes this good just anywhere. Find a shoe for every you from brands you love, like Birkenstock, Nike, Adidas and more at your dsw store or dsw.com.

[Lauren Sherman]

So this concept of accessible luxury that really like, blew up in the late or mid 2010 time, mid 2000s. And by that time, Michael Kors had a robust handbag business. Tory Burch was in there. All these sort of brands that sat right below or well below the luxury brands in terms of pricing, but offered something special. Coach was sort of the center of that. Did you all come up with that name or. Or did it get foisted upon you?

[Reed Krakopf]

That's a good question. I definitely could not take credit for that. I do think, honestly, was more. I. I would 100% give credit to Lou, the CEO. Yeah, he was a master. Is. I'm sure was a master at understanding Wall street expectations and how to grow a business in a way that you had to talk about it every quarter. It's really tough, really tough when you have quarterly expectations to grow a business. I mean most, most big brands today aren't public or they're part of a conglomerate that's public and it's buried in 70 other companies. Yeah, you really have no idea. But this idea of accessible luxury, what it was was this democratization of luxury which fit the American narrative really well. And when you look at the pricing, it was 50% of the European brands, let's say, for a similar bag. There was this accessibility that allowed a whole, a huge section of consumers to be able to afford a bag and to aspire to afford a bag. And then after a while it was people that could afford much higher price bags were buying Coach bags or buying Coach accessories or something else. But it was really, I would say it was really invented as an outgrowth of understanding how to grow a business. And you know, Lou was really the author of that. And the business grew to 5 billion. Close to 5 billion in about 10 years. We had about 10 or 12 years of positive growth. So it was, it was an amazing time to be there.

[Lauren Sherman]

500 million to 5 billion, something like that.

[Reed Krakopf]

Yeah. Rough. Roughly.

[Lauren Sherman]

And so during that period, when did you decide? Because when you were still running Coach, you and, and here's a question for you. Someone and who's very smart, who works in the luxury industry referred to Eddie Slimane as like sort of a co CEO. Did you feel that way when you were working with Lou or I mean it sounds like you were real partners no matter how you would put it. But did you feel that sort of because it was a public company, because it was so big and you had all these employees, did you feel that sort of like responsibility that, that a business size executive would feel?

[Reed Krakopf]

No, for sure. I wouldn't call it co CEOs. I would just say that we were business partners. I mean our relationship was entirely organic. We never, I don't think we ever had a. I don't think I had a review in 15 years. And I don't think we ever talked about, you need to do this, I need to do that. The deal was we trust each other entirely. Anything he needed, I did anything I needed, he helped me with, you know, budgets, space, staffing, strategy, any of those things. But at the end of the day, we both had our worlds that we were, let's say the expert but the most qualified to make A decision. And we respected that. Like, he would never. He would never ultimately have, you know, get in the way of something, even if he didn't believe in it. And maybe he was right, but he knew that ultimately, like, I knew ultimately that I had to respect his opinion. He had to respect my opinion. But we could talk about anything. He could question anything I was working on, and I would listen because he was, you know, he had a credible point of view. He was super thoughtful. He's a really brilliant guy. And that was really. It was a reciprocal relationship. I wouldn't say co CEOs, because that would. I think that narrows the scope of. Of his work even more than my work because he was on both sides and I was on both sides.

[Lauren Sherman]

Yeah. Yeah. It's really magical when you think of those sorts of designer executive relationships, because at the end of the day, there actually aren't that many partnerships. Most. Most of those. Those duos don't connect well and their relationship doesn't improve the business. But when it works, it's. It's truly magical.

[Reed Krakopf]

It is, It's. It is exponential and it's. I would say it's a necessity. It's a necessity to grow a business meaningfully, to. To have that. It's just. It's too hard when you're not working on the same, you know, pretense that this is where we're going and this is how. Because there's so many decisions that. That can derail a business. Many, many, many, many, as I learned.

[Lauren Sherman]

Yeah. So when you're at coach for 10 years, you have this blockbuster success. You totally change the industry. Like, you transform the industry of how things are priced. How things. Not only how things look, but how things are priced. How consumers shop. Like, the fact that people would buy Coach bags is a huge reason to me why they buy Louis Vuitton bags so easily now. It was that first step into being, okay, spending money on something like that, because I think people forget that no one bought. Spent money on stuff like that. Not even really rich people.

[Reed Krakopf]

No, no, it just wasn't. You're absolutely right. It 100% right.

[Lauren Sherman]

So then you launch your. Your namesake line and they. The. The company funded that. That project. Right. So what made you want to do it? What was the idea with it? I got to go to a couple of the shows which were very hard to get into, and I remember, like, begging to get in, and I. Which is. They were great shows. And it was in the. It was in the office space. Right. I love those. When they, when brands do that. But what was sort of, sort of the abidus for that?

[Reed Krakopf]

So the strategy behind it was pretty straightforward. It was basically, at the time, there were a lot of designers attached to brands. Almost every brand, every brand, most major brands had a designer for that brand. If you, you know, think of Galliano for Dior, you know, Narcissa Forloe, there was a lot of. There was a lot of excitement around attaching a personality to a brand. Tory had and continues to have great success. Michael, incredibly well known designer through all the work he did. So all of a sudden, Coach was looking like this kind of monolithic, faceless brand. And we're losing ground now. Were we losing ground because we had 12 years of growth? Maybe, you know, things can only go up for so long as. Then as hard as it is to believe that for some sometimes when you're in it. So we together, the board, we decided, you know what, we need to attach some kind of design credibility, some differentiation to Coach. And the outgrowth of that was, okay, I'm the creative director, I'm attached to Coach. How do we create sort of more of a fashion cred for that, for the big brand being Coach? And that was to launch that brand. Now, the idea was to have it as sort of a halo. The whole thing made perfect sense on paper, but in reality, there were some serious flaws to the concept. You know, we launched the brand. Unfortunately, there wasn't nearly the overlap we hoped for in terms of customers going to RK and customers going to Coats. The spread was a bit too far. The brand did really well. You know, we were the windows, you know, Barneys and Colette and Sachs and Bergdorfs. And we sold at all the best retailers. Um, we had, I think nine or 10 concessions in Saks sitting next to Fendi and Gucci and Prada. And we did really well that the problem was, you know, this very well. I know she talked to a lot of people in the business. To sustain a business to be competitive in a short amount of time, this is a key is nearly impossible. It's sort of a bottomless pit of investment. I had been in business two or three years when I bought the business from Coach. But imagine having to project 30, $40 million in volume in year one in the luxury space. It's not possible.

[Lauren Sherman]

Yeah.

[Reed Krakopf]

But no one, to be fair, no one knew that because no one had ever tried it. So we were doing, you know, 30, 40 million in the third year, which was still enormous.

[Lauren Sherman]

Yeah.

[Reed Krakopf]

But to stay there and to grow there, the investment is just it's monumental. And there was a point where, honestly, I was doing two jobs at one time. I was still running coach and working on my brand, and it was just too much. I, like, never went home in three to three years. I remember just thinking, like, I can't continue this way. There's. It's just too much. I'm not. And I didn't feel good about the work I was doing at Coach, to be totally blunt. Yeah, I kind of ran out. If I'm being, and I am totally honest, I ran out of room. I just didn't know what to do anymore. I'd been there 15 years, and it was just time for someone else. And, you know, the new group, as I said earlier, I think has done an amazing job of just taking the brand somewhere else. And, you know, I just didn't. I think all designers, there is a bit of a shelf life at brands. Some are longer than others, but how many times can you reinvent yourself and the world around you is shifting? And like I said, 15 years, a long time. So I was kind of done well.

[Lauren Sherman]

It also feels like to me that you seem. And I'm totally projecting, but a person who really, just really does like the work. And that's. I think, when people stay too long, it's not about the work at that point. It's about something I've been writing about a situation that I'll be brand safe for you, but where the person is just struggling to leave. And it's like, you did an amazing job. Go do something different or don't do what you want, but it's actually time, and it's not fair to you that it's ending up like this because you deserve to be celebrated. And I think you seem to have a pragmatism about how the business operates that some people, you know, and on the executive side, that exists too. It's not just about create sensitive creatives. Like, there are just people who, like, don't understand that it's a job and their identity gets too mixed up with it and all that stuff.

[Reed Krakopf]

I mean, I think that's my most pronounced quality is I'm pragmatic. Um, I just know. I think I'm too insecure to be. To fail and be embarrassed if I'm. You know, that's kind of a blunt way of saying it. I don't feel good about. About being somewhere where I know I can't really do what I need to do anymore. And, yeah, it's nothing. It's nothing so altruistic other Than, honestly, I'm. It's difficult emotionally for me to do something I know that I can't do. So anyway, I. You know, it was an incredible time. I, again, as I said, I had someone who saw something in me that I never imagined. It was transformational in my life and in my career, and I owe that to Lou, you know, forever.

[Lauren Sherman]

Yeah.

[Reed Krakopf]

And I bought my brand with a group from Coach because I really thought, you know what, if I'm going to do this, I need to give it a serious shot. And I just not doing anyone any favors being a Coach any longer. So I left, took the company, and it was just not sustainable. It built. It was sort of like I described it as. I had a Ferrari with no tires, and I needed a bicycle. And that was kind of. And to unwind this big brand. You know, we had a hundred people working for the company. 120 people. I couldn't do it fast enough. I couldn't unwind it fast enough to get to a point where I was comfortable. And I think maybe I'm the only designer ever. I actually went to my partners who were incredibly supportive. I couldn't ask for better partners than they were, but I went to them and I said, I don't want to do this anymore. I'm not going to take any more of your money. I'm done. And they looked at me like I was insane. And I said, well, it's not gonna end well, and I can't do this anymore. I'm not happy. I know you are not happy. And, you know, I have a life that I'm so fortunate. I love what I do. I have a really loving wife and family. And I felt like it was being not just jeopardized, but it was something that was really getting in the way of. Of simple happiness. And I just. So I walked away.

[Lauren Sherman]

You know, you describe yourself as insecure, but I think it's probably the opposite. That you know who you are as a person and you want to. Not you. You want. You're like, in pursuit of a good life, and that is more important than this. It's Gino Scott Sternberg. He designed Band About. Scott is very similar in that he's like, if it's not working in the money and he knows it's not going to work. I mean, he's done it twice. He's like, I'm out. And that's hard when. And we see this many of your peers who are still, like, in business, and you're like, I remember one designer was going to call me, but had something to tell me. And I was like, oh, maybe finally they're going to just close it, because I think that they're incredibly talented. And in the end, they just wanted to ask me or tell me something else. And I was like, you know what? Whatever. I support, because I support you. But it's really. It is a thing that you see. And in the end, like, you've. You've since coach, since your namesake, you've done tons of other stuff that wouldn't have been possible if you had tried to hang on.

[Reed Krakopf]

No, it's. It's really. And we barely know each other, but you. You have a good beat on me. I. It's funny. I was in part of the Vogue Fashion Fund Group for about, I don't know, 10 or 12 years. I. Which I loved. And we, you know, I got to meet and. And spend time with pretty much everyone who came through American fashion, which I loved. And one of the things towards the end that I remember thinking was my thing was to talk people out of being in business because I. I would say something and. And I won't say who it is, but there's someone who was in business who now is doing amazing working for someone else. And I just said, are you having fun? Are you making any money? If the answer is no to both, please. And then everyone's worried about what will the editors think? What will the community think? The fact is, nobody cares. No one thinks anything other than at the end of the day, if you're miserable, you gotta walk away. And it's scary because, of course, when I close my business, someone I know I was talking to was like, you're radioactive now. Nobody wants to talk to you. And I was like, well, okay. So I had to wait a little while. So it wasn't exactly an easy decision to do it. But I don't know, it's funny. There's a fascinating thing to me about we, all of us designers, there's so many brilliant designers that are in the wrong place and don't succeed, and people don't immediately what they did previously kind of disappears. And there's so much to be said for the right designer at the right place, in the right environment, with the right partner. And if you don't have that, you know, it doesn't usually. It never works, really. You don't ever become financially successful unless you love it, unless you're in it. It's impossible, you know, to make it happen. It's just not possible to make it happen. But it's Hard to walk away. I get it. It's hard to walk away and be no man's land.

[Lauren Sherman]

Yeah, but you walked away and then you were at Tiffany fast, right? It was, yeah.

[Reed Krakopf]

I always wanted to work at Tiffany forever. I remember going there when I was a little, little, little kid. I don't know how old, but less than, let's say six or seven years old with my mother. And I went to the fourth floor and I saw the home design space where they used to have in the old days. They had amazing collaborators. Vladimir Kagan, John Dickinson. Who else? Trying to think of some of the others. All the Mario Bora, all the best design talent of the day would do these installations. And it's so weird, but I remember it like it was yesterday and felt like this place is magic. And I just had this real affinity for it. It never was the right time. And they weren't organized in a way that they would want someone like me there. Frankly, they. Finally, when I started talking to them, I met through a dear friend who you mentioned earlier. I met one of the board members I knew, Rosemary Bravo from the past, who's on the board, and we started talking about it and it took some convincing to create a role that was actually a true creative director, because they had never had one in the history of the company. It was always like there was a design director, a marketing director, store director, and pretty typical for jewelry. And when you think about it, can you name the designer of any jeweler? No, probably.

[Lauren Sherman]

No. Only you and. And your. Did Francesca come before or after? Yes, before and Francesca. But like, that's. You are really the only one who's a brand name.

[Reed Krakopf]

Yeah.

[Lauren Sherman]

And.

[Reed Krakopf]

And yeah, she was amazing. She's a great designer.

[Lauren Sherman]

She's great.

[Reed Krakopf]

Yeah.

[Lauren Sherman]

I'm not going to try to pronounce her last name right now. I know it's not as hard as it looks, but it looks hard. But she's. She's. She's really talented, but she is the only. And then someone messaged me from Kering to tell me that the person who designs Bulgari is. Or Bocheron is also pretty well known. But I was like, I don't. Anyway, you are the only actual famous person who had ever done it.

[Reed Krakopf]

It wasn't a structure that they felt. They just didn't. That it's not a structure that they really embrace. So I started. Actually, it was a collaboration and it was through something I've always loved, but actually never did. Did one of the. Is. It's kind of. It's not a secret. But the reality is I never did anything before I had a job doing it, if that. I can explain that.

[Lauren Sherman]

Yeah.

[Reed Krakopf]

Like, I never did a handbag before Coach. I never did menor before Tommy. I never did serious jewelry before Tiffany. I did a lot of jewelry, but I never did those things in a serious way. I kind of did them in an ancillary way, in a personal way, which I kind of thought was a good thing to come in, understanding it, but not being beholden to it. So anyway, it started as a collaboration on the home concept, which I loved, which was so. I loved working on that. The craft people were just brilliant. I mean, the things. We made these birds nests made out of hammered sterling silver wire with Nymphenberg porcelain, Tiffany blue eggs. And we worked with Seguzo in Murano. We worked with Nymphenberg. We worked with the best, best, best people in the world, which for me, as a person who likes to make things, it was a dream. And it turned into this concept called Everyday objects, which initially I thought was going to get me fired because initially there was a big backlash against selling thousand dollars sterling stuff, silver tin cups. But then it became like a lot of things. People hated it and then loved it and it became like. It became a proxy for Tiffany for me.

[Lauren Sherman]

There was like a pencil adjacent item. Right. Or what?

[Reed Krakopf]

There was a Sharpie marker.

[Lauren Sherman]

Yes.

[Reed Krakopf]

Sterling.

[Lauren Sherman]

Yes. And I remember it just felt very. It was clever, but in a. In a way that felt I. I try not to use accessible anymore, but it felt like understandable. Yeah. And open to people. Not. Not closed off. Very open and. And fun too.

[Reed Krakopf]

Well, there was. It's funny, I got a super nice note for someone I admire so much, Johnny. I've bought a few of them for Christmas presents.

[Lauren Sherman]

That's. I mean, that's the only audience. If he endorses it, then it was good.

[Reed Krakopf]

That's the. Well, he liked it. Yeah. So the Everyday objects piece was. It was fascinating because it led me to a place in Tiffany that was always there, but I didn't realize it yet. Like, if you look back at like Van DY Truex, who was the creative director before John.

[Lauren Sherman]

Yes.

[Reed Krakopf]

He created these. I don't know if you've seen them, these berry baskets that look like the kind of thing you'd see at a road, like a fruit stand, you know, in the countryside, and these sort of splintered wooden baskets. He created them in sterling silver with the staples done in gold. He also created. He was the originator of the bamboo flatware. Sterling silver, bamboo, flatware, amongst other things. So this idea of taking utilitarian things, sort of naive, simple things, and recreating them with the most amazing quality and craftsmanship and materials is something super related to Tiffany. But I really wasn't aware of it. It just kind of happened. I saw a picture in a book, a Tiffany book that had an installation that Andy Warhol had done where he took a tin can and put cigarettes in it as a part of a tablescape that he did for the home collection. So there were all these pieces that led to that everyday object concept. And it started to. And when you think about it, think of Audrey Hepburn, Berkshire Tiffany. She's standing in front of a window with a paper bag and a tiara. It's exactly the same rhythm of something utilitarian and kind of functional and something extraordinary. So I started finding all these pieces, and that's what became everyday Objects. And by the time I finished, we got to know each other well enough, and. And they made me the chief artistic officer of the company, which was really what I always wanted. But I had to. Really had to prove myself to them in every way because it was a huge change for the business.

[Lauren Sherman]

And how long were you there for? And were you there as. Right up until the LVMH acquisition? And what was it like working there, knowing that this was probably gonna happen and did you feel like you were definitely gonna leave when it happened, or what was, like, big picture? What were you thinking during the time and what was your experience like there? So it must have been a weird time to be there.

[Reed Krakopf]

Um, part of it. Well, I was there about six years, all in. In terms of the home concepts through the end. I was there until the end of the acquisition. You know what it was? I loved being at Tiffany. I mean, it was a dream job. I loved it. I loved the people that we worked with. I thought the work we did was really thoughtful and meaningful and really created a believable chapter in Tiffany's history. We did an enormous amount of work in that time. I think that was credible and still lives on. But I, you know, I would love to have worked for the LVMH group, but that was not their plan, so that was that. I had to accept that, that they had other plans. And obviously, no one is better at building luxury brands than they are. They're obviously brilliant in every way. And what can I say other than it was time for me to go. Yeah, that was it.

[Lauren Sherman]

Yeah.

[Reed Krakopf]

But I loved. I mean, Tiffany. I couldn't say how much I enjoyed working on something that I just intuitively it was more me than anything I've ever done, including my brand. That's interesting. It really was.

[Lauren Sherman]

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[Reed Krakopf]

24 Cullina showdowns for 24 hours straight. Which chef will out cook outpace, outlast the competition?

[Lauren Sherman]

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[Reed Krakopf]

24 and 24 Last Chef Standing Sunday, April 27th at 8. See you first on Food Network Stream next day on Max.

[Lauren Sherman]

So you exit amid all the other exits. And they really did just completely overhaul and, and focus in a way that is not, I would say, like law on the outside. You think, well, it's not very creative what they're doing, but the reality is it's very pragmatic. And so the, and now they're seeing this sort of reaping the, the rewards of, of the work that they put in. But you have this opportunity to transform again. What do you decide to do next? And it's also like during COVID So that's the other reason that I couldn't remember if you stayed, because it's like all that stuff is all blurred together for me now.

[Reed Krakopf]

No, the transition happened during COVID You're absolutely right. I had always wanted to work with this group. EL Coderton, one of the founders I've known socially forever. I've admired him for a long time and always wanted to work for him. It just never, never was the right time. We had talked about it many times over the years and we. It happened again. I think none of the jobs I had for 20 years at least existed before it was a conversation. You know, this certainly didn't. But the idea of working with a vi ski group on fixing brands and understanding what's really inside of a brand before an investment's made was super interesting to me because I've been on the Wall street side for many, many years. I've been on the VC side, my own brand. So I understood it well enough. It's not what I do, but I understand it well enough to sort of get into what things really mean. And I think it must be difficult to be on the investment side and not having been in the business in a meaningful way. It's all a bunch of numbers on a page usually. What does it mean? And it's basically trust. You're in a trust that you can figure out what you think they might be doing and you can figure out how to make something, make something grow. So it felt like a good relationship myself with an investment group and it's been exciting. I've done a lot of looking at brands and evaluating like what would I do, what do I think the opportunity is, how would it grow, who's doing what they're doing and why do you think it's possible? So sort of a pragmatic approach, but the opposite of a financial approach. It's really the doing, like what would you do literally with this brand? And what, what are the, what are the growth areas specifically? And why do you think that? And that's been really interesting. And then one of the brands, and I'm working on a few others that I will talk about another time, is John Hardy, which I had known the brand forever, was a great quality craftsmanship. I called it more of a craft based brand. Not really much about design, but really about beautiful quality craftsmanship. You know, all the first samples or first models are done in wax. They're all carved by hand. No 3D printing, no CAD. Everything is made within an artisan group, about four or five people, four or five hundred people. So beautiful quality, beautiful craftsmanship, but not enough design. So I kind of took it from craft as an end point to craft as a starting point. You know, craft was sort of the beginning and then adding much more in terms of design aesthetic, much more in terms of choices. It was a very kind of monolithic assortment. A lot of SK that looked a lot the same, a lot of similar looks. And that's been really exciting. And the brand is, is notwithstanding all the crazy macro stuff, is doing really well. We essentially turned the entire assortment in about 18 months. It's about 85% new. And collections like Spear, Surf, Love, Knot, what's the other one that was brand new? I'm forgetting Naga, the relaunch of Naga are almost entirely the top 20, 30 styles, bestselling styles. So it's been great. I mean the nice thing about a smaller, and it's not small, but smaller companies, that things can happen pretty quickly and you don't have these billion dollar businesses at risk that you have to sort of nurse as you're doing like a Tiffany. Took like five years to turn the assortment. And I'm not even sure it was at the point where you would say it was at a finish point. But it's been nice to work on some smaller brands in some other categories again. I mean, over the years, I've worked on so many different categories that I love being able to work across different categories and concepts and brands, even in different industries. It's been really fun.

[Lauren Sherman]

Yeah. And it must be interesting with John hardy. It's what, 50 years old? Aren't they doing theirs? So it's like 50 years, but still not so in jewelry. And we didn't end up kind of talking about the branded jewelry market. There isn't a lot of branded jewelry. So it must be interesting to have something that has a history but that still has room for growth, because that's probably that kind of like coach the two that you have a history. But there's like a lot of transformation or.

[Reed Krakopf]

No, there's a lot of 100%. There's a lot of similarities between them. Obviously the scale's bit different, but yeah, you know, the handbag business was very, very limited in terms of choices. The jewelry world is still very limited. I mean, the barrier to entering jewelry is massive. You know, people. Raw materials are crazy expensive. Craftspeople are really hard to find and people don't. You know, there's sort of like a scale of. I always think of what people will buy from who and, you know, I always feel like ready to wear, assuming it's not ultra, you know, super high price. Most people buy it from almost anyone. You know, a brand, they just think it's cute. I like it when it gets very expensive. Obviously it gets different. But then handbags and shoes are another thing. Like people don't buy shoes from just anyone. They want it to come from someone who knows how to make shoes. That everyone knows what a shoe looks like, even if it's. They don't know how to tell you what's wrong with it. But they know handbags, the same. And then jewelry is like the ultimate in terms of difficulty getting into that business. People, even big brands, without naming them, don't buy diamonds from certain brands. Billion dollar brands, they just don't feel like they're a credible source for them. You know, gold is another thing. It depends. It's so expensive, so it's protected the industry largely to people coming in and gaining a lot of share. So Hardy is sort of the biggest smaller player. Is the biggest smaller player. Somewhere between a hundred and a billion. There's nobody, almost nobody, I mean, no one of note. So there's a ton of Opportunity for growth. And, you know, that's what makes it exciting.

[Lauren Sherman]

One final question is you are. You're working across all these different brands. You have been entrenched in the global fashion industry and driven much of the growth in that industry for the past. I can't believe 1996, I guess that's 30. 30 years, but really past 40, 40 years. When you look at these brands now, what do you think they do better now than they used to not do? And what do you think is missing from a lot of the sort of plans or the visions for the. For what they're doing?

[Reed Krakopf]

That's a tough question. I think what I think people are doing really well. I'll start with that. I think this idea of a singular point of view and a narrow focus on product is what's working really well.

[Lauren Sherman]

Yeah.

[Reed Krakopf]

I think in terms of. From a business standpoint, I think these. These brands that are bringing luxury marketing and design to commodity products is doing really well. Think of Casper, Think of Warby. Obviously, the first one, you know, they're doing one thing and they're. I mean, maybe the best one is Dyson.

[Lauren Sherman]

Oh, yeah.

[Reed Krakopf]

I mean, wow.

[Lauren Sherman]

Amazing.

[Reed Krakopf]

You know, I guess Dyson would be, you know, Apple was the first. Yes, let's say.

[Lauren Sherman]

Yeah.

[Reed Krakopf]

So to me, that's a lane that people are doing really well. People doing narrow. A narrow focus on things is definitely what's working. I think what's tricky is it's so tough right now. It feels like everything is a bit upside down right now. I would say that I don't. I can't identify any clear trend. The only thing I think, you know, everyone will sort of. The talking point is always like, well, sustainability is going to be more and more important as the consumer ages. I'm not sure about any of that, but I think authenticity is more important than ever because transparency is everywhere. Everyone knows everything. That being said, I was talking to the team at John Hardy the other day and we're talking about sustainability and I was like, can anyone at the table is about 10 people. Tell me what that means. Totally. So it's a buzzword. It's definitely, I mean, John Hardy, just to speak about Hardy for a minute. It's been part of their brand DNA forever.

[Lauren Sherman]

Yeah.

[Reed Krakopf]

John Hardy, the founder, is an incredible champion of the environment, so it's easy for us to talk about it, but if I see one more time sustainably sourced or reclaimed, I mean, I don't know what that means. So I think transparency, authenticity and. And more than anything, because of the Vastness of the choices. I think people want something they can only get from that particular brand. It has to be a unique point of view. Unless it's about price. You know, if you're talking about Uniqlo, how could you go wrong? I mean, it's incredible what they make, you know, for the price that they make down jackets and. And cashmere sweaters and. But assuming it's not about price, I think it's about. You know, I always. We talked about Vogue fashion. I would always talk to designers about people know the right thing to do with their brand. Usually either they don't want to do it, or someone told them not to do it, or it's too risky. But, you know, I always think, like, you know, it in your stomach, in your gut, what the right thing is. And I think those brands that embrace that in the face of people telling them, why would you do that? Are the ones that are going to succeed. There's no roadmap, certainly not today. It's too complicated. You just have to believe in what you do and stand for something. And those are the brands, I think, that have done. Look at the row. I mean, they're a great example of that.

[Lauren Sherman]

Totally.

[Reed Krakopf]

They did their own thing for 20 years, and it's. It's incredible what they've done. Incredible.

[Lauren Sherman]

So true. It always. It always leads back to the row on this podcast. Reid, I love this conversation, and I feel like everyone needs to listen to this who's in the business and. And who wants to do something interesting. And congratulations on. On the career you've had and the career you're having, and it was such a pleasure to chat with you and hear from you, because I feel. Feel like I learned a lot.

[Reed Krakopf]

Oh, thank you. I. I enjoyed it as I knew I would, and look forward to speaking again.

[Lauren Sherman]

Yes, for sure. Thank you.

[Reed Krakopf]

Thanks.

[Lauren Sherman]

Fashion People is a presentation of Odyssey in partnership with Puck. This show was produced and edited by Molly Nugent. Special thanks to our executive producers, Puck co founder John Kelly, executive editor Ben Landy, and director of editorial operations, Gabby Grossman. An additional thanks to the team at Odyssey, JD Crowley, Jenna Weiss Berman, and Bob Tabador.