Gap taps Coach architect Reed Krakoff for $29.95-$498 handbag line

Investing.com - Gap is entering the roughly $15 billion accessories market with a handbag collection designed by Reed Krakoff, the architect of Coach’s transformation into a global accessories powerhouse, with prices running from $29.95 to $148 and a limited-edition patchwork style at $498.

Tapestry (NYSE: TPR), whose Coach brand Krakoff himself helped build, is the most direct equity expression of that competitive pressure. Coach accounts for the majority of Tapestry’s revenue, and any meaningful share Gap captures in the accessible-luxury bag segment would come at the expense of Tapestry’s core customer. Tapestry shares were indicated down about 1.9% ahead of Tuesday’s NYSE open, per Investing.com data, extending a 17.6% slide over the prior 30 days — a decline the broader market doesn’t explain, with S&P 500 futures pointed lower by only about 0.65% in the same session.

The Gap bags will be available in stores and online beginning Sept. 8, and Krakoff said the engineering challenge was substantial. Early denim prototypes lost their shape, forcing Gap to develop a special no-stretch denim more akin to the stiffer fabrics used in jeans before stretch blends became standard. The flagship Five-Pocket Tote replicates classic denim details — belt loops, shank buttons, bar-tack stitching, while the Hoodie Tote is made from neoprene-lined fleece with a drawstring closure. "You can wash it," Krakoff told Vogue. "It’s the ultimate everyday bag."

Gap CEO Richard Dickson framed the push in strategic terms on the company’s Q2 2026 earnings call, saying accessories represent an "accelerator" alongside beauty and entertainment licensing. "Accessories are not a new business for Gap, but we’ve never been in it with distinction or conviction," Dickson said in an interview with the Wall Street Journal.

That is the gap the Krakoff hire is meant to close, he was named executive director of accessories for Gap Inc. last year and also brings experience from Tiffany & Co. and his own eponymous label. On the earnings call, Dickson added that "Reed Krakoff, who oversees our accessory creative, has done an absolutely terrific job translating Gap’s brand ethos into a really distinctive collection."

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