Coach to Launch Ready to Wear Line and More

Here's what Krakoff has to say about the brand's new direction: "As opposed to being an accessories brand, we're much more inclined to see the brand as telling the story of the total lifestyle, meaning we need to have a way to see Coach in a different way," he told WWD.

He also added: "Instead of designing accessories to fill a need, we're thinking more about the woman, who she is, where she goes, what is her life like and how does it feel, to move Coach from...where you think of a Coach bag, to now when you think of Coach, you will think of a woman or a man and you think of their lifestyle," Krakoff said. "You think of their lifestyle and you think of all aspects of that sense of style and that sense of how they live their life."

In August, Coach stores will display all categories, from apparel and footwear to eyewear and handbags.