Reed Krakoff On Why He Suspended His Label

© Rex

REED KRAKOFF has commented publicly for the first time on the suspension of his eponymous label.The designer, who bought his namesake label back from Coach with the help of investors in 2013, announced last March that the brand would no longer continue to operate, and has now explained his reasons for doing so.

Read more:Reed Krakoff Suspends His Label

"It was essentially that I did not feel comfortable taking more capital," Krakoff told Vanity Fair."I was a big investor.I certainly showed my belief.I just felt that, for what we were doing, it wasn't working."

While it is unclear how the financial state of operations has been left between the designer and his investors since his decision to pull the plug on the existing incarnation of the brand, Krakoff revealed that that he didn't want any more money to be pumped into it since he believed that "it wasn't working on any level".

Read more:Reed Krakoff Spring/Summer 2015 Ready-To-Wear

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"I really feel today that it was the right decision," he said."And I felt irresponsible asking people to support it.And to the employees, and the investor group, which was made up of incredible people, incredibly bright - everyone had good intentions.But I saw it getting worse, and I decided to go to my investor group and talk about it.And we agreed to not go forward."

Read more:Reed Krakoff Leaves Coach

His latest comments come as he prepares to launch his capsule collection for American retailer Kohls (called Reed) this month.He said in November that it would retail for between $15 and $129 (drastically less than his former creations), and called it "the new accessible luxury".

While Krakoff told WWD last November that "a lot of exciting things are happening with the brand - stay tuned," the Reed Krakoff website still has the same holding message that was uploaded at the time, which states:"Thank you for visiting.We are currently undergoing a thrilling transformation and ReedKrakoff.com will soon have a completely new look and feel.Check back to discover our exciting revolution."