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It's been three months since Reed Krakoff announced the closure of his eponymous label, with discounts arriving immediately and only increasing since then. Now WWD reports that discounts have hit 70% off both online and at the Madison Avenue store—the only brick-and-mortar location it has left.
That doesn't bring prices down to sample sale levels, but last call will likely have label fans going for it anyway: Sales associates at the boutique said that they expect to close in a week and a half, though an official closing date has not been announced.
The Soho store that just opened in January has already shuttered—a sign on the door reads "Due to inventory, Reed Krakoff SoHo will be closed today," but WWD says that the doors haven't been opened for weeks, even though the lights are on, bags are on the shelves, and video installations keep playing on a loop in the windows.
The paper reports that Reed Krakoff is planning on subletting 93 Greene Street (it has nine years left on its lease), and the commercial realtor that it has brought on has already seen "a lot of activity" from high-end brands interested in taking over the 2,700-square foot space. As for 831 Madison Avenue, the building's landlord said that the brand still has a lot of time left on that lease; however, whether it's planning to sublet that address as well is still unclear.