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Coach has named its new executive creative director and it's Stuart Vevers, formerly of Loewe in Spain—not Marc Jacobs. Settle, whirlwind of speculation, settle.
WWD recently reported on how the luxury handbag and accessories brand's shortlist of "dream candidates" sparked tons of rumors, the most thrilling of which was that Jacobs planned to leave Louis Vuitton or that the company was considering an IPO. The trade wrote that the designer's inclusion on the list "suggested the industry at large views an exit from Vuitton —despite his blockbuster tenure at the French leather goods giant—as a possibility."
The fact that Jacobs didn't end up at another leather goods company doesn't discount Louis Vuitton's possible IPO or his leaving, but it won't be for Coach. Vevers, who was not mentioned in the shortlist that WWD reported, still brings an impressive resume. Before Loewe, he did stints at Mulberry, Calvin Klein, Bottega Veneta, Givenchy and Louis Vuitton. His start date is yet to be determined, but the current creative director Reed Krakoff's contract with the company will expire next June.
· Coach Taps Stuart Vevers as Creative Director [WWD]
· Marc Jacobs to Leave Louis Vuitton for Coach? [Racked]