Spear is being sold at some of the brand’s retailers, including Nordstrom and Bloomingdale’s, as well as at the New York flagship, which will be unveiled in the first week of September after a renovation based on Mr. Krakoff’s vision. Updates to the 1,100-square-foot flagship will include an area where some products can be customized, a bar serving Bellocq brand teas and a two-sided interactive mirror that shoppers can use to create social media posts. Another pop-up store is scheduled to open in Miami in October, and the brand’s revamped website will also launch this fall.
John Hardy’s business is relatively lean compared to the multibillion-dollar companies Mr. Krakow used to work for. The firm does not disclose its revenue, which Mr. Krakow described as “more than $100 million but less than $1 billion,” but Milton Pedraza, chief executive of the Luxury Institute, a management consulting firm in New York City, said , “It’s probably closer to $100 million instead of $1 billion.” However, he added, developments in the jewelry industry could be good for brands: “Since branded jewelry is taking a bigger share of the market, they have room to grow. “
He said the smaller size of the business actually favored change, “however, it was always offset by a reduction in the number of employees in the company.”
Still, he notes that the lack of bureaucracy has allowed him to make significant progress without sacrificing consideration for the creative process: “We’re moving fast, but I can say that the amount of thought and work put in is as—if not more More words – I’ve spent money on bigger brands.”
Mr. Krakow’s role isn’t the only leadership position the company has reshuffled recently. Former Richemont executive Jan-Patrick Schmitz took over as chief executive in August after Frédéric Levy left after less than six months on the job. official.
“We’ve been going full steam ahead,” Mr Krakow said. “I have had a great relationship with Jan-Patrick since he joined and am excited to continue working with him.”
The brand’s agenda for 2024 is quickly filling up. Mr Krakoff said there would be a significantly expanded menswear collection, including personalized and bespoke pieces, and that the brand’s most expensive gold and gemstone line, the Cinta line, would also reappear. “Really, we’re just getting started,” he said.
