Coach Savior Reed Krakoff to Debut Eponymous Line at 31 Madison

31 madison property shark Coach Savior Reed Krakoff to Debut Eponymous Line at 31 MadisonReed Krakoff, the man who revitalized Coach, is starting an eponymous new label. In the not-so-distant past, Coach was the brand of boxlike purses that came in a brownish tan or made the occasional dalliance with black or navy. Your mom had one, everyone’s mom had one, and they would last forever. It looked, however, like the brand might not.

Under Mr. Krakoff’s tutelage, Coach not only became cool—its bags suddenly acquiring names like Soho Slim—but it earned a status as something akin to an American Gucci, a brand that is both steeped in tradition and defining an otherwise elusive now.

The line, whose logo features Mr. Krakoff’s initials, will debut in the former Miu Miu store at 31 Madison Avenue. The 2,200-square-foot space will showcase women’s fashion, jewelry, fragrances and, yes, handbags. There is also some talk of future delvings into men’s wear and home furnishings. The brand promises to be burnished with some signature, understated touches of the sort that makes Coach so imperturbably Coach.

Mr. Krakoff, meanwhile, will retain creative direction of both brands.

Miu Miu’s lease, which extends through 2012, came with an asking rent of $1.4 million a year, according to the New York Post.

Ray Carew of GCD Consultants represented Coach. Joel Isaacs of Isaacs and Company repped Miu Miu.

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