NEW YORK, June 25 — After the announcement back in April that Reed Krakoff would be departing New York City-based luxury brand Coach, there has been fevered speculation about his potential replacement, with a variety of big-name candidates linked to the job. Coach has now announced that British designer Stuart Vevers will be taking up Krakoff’s mantle.

The rumours have been put to bed — and no, Marc Jacobs won’t be taking over at Coach (for now). Instead it’s British designer Stuart Vevers who will be heading up the New York luxury label.

Something of a leather goods specialist, Vevers was formerly in the top job at Spanish luxury brand Loewe, where he has helped to revitalize the traditional house codes, and has recently led a collaboration with Junya Watanabe.

“Stuart is recognized as one of the world’s leading accessories designers. His passion, leadership skills, and broad luxury brand experience, focused on leather goods, uniquely qualify him to lead the next chapter of Coach,” said Coach’s President and Chief Commercial Officer, Victor Luis.

Vevers joined Loewe in 2008, moving from London brand Mulberry where he served as Creative Director from 2005 to 2008. He’s certainly got luxury pedigree — prior to this, the 39-year-old designer held positions at Louis Vuitton, Bottega Veneta, Givenchy and Calvin Klein.

“Coach is an exceptional brand and company that I’ve long admired for its rich heritage,” said Vevers in a statement. “I am excited to drive Coach’s next stage of transformation.”

The excitement doesn’t end there: Loewe owners LVMH will also be looking to replace him — cue much fevered speculation. — AFP/Relaxnews