Coach names Stuart Vevers as creative director

Leather goods maker Coach Inc on Monday said it hired the creative director of high-end fashion and handbag brand Loewe to be its new executive creative director, replacing Reed Krakoff.

Stuart Vevers, who was at Loewe - a unit of LVMH, since 2008, will be responsible for all creative aspects at Coach, which is best known for its handbags but is expanding its shoes and fashion selection to fend off growing competition from the likes of Michael Kors and Fifth & Pacific Cos Inc's kate spade.

Vevers will report directly to Coach Chief Commercial Officer Victor Luis, who becomes CEO early next year.

Coach said in April that Krakoff, who was with Coach for 16 years, would not renew his contract to focus on his namesake brand of handbags.