Can the Man Who Made Coach Remake Tiffany?

Reed Krakoff, the designer who catapulted Coach to fashion prominence, and made it a $5 billion handbag Goliath, has officially traded in his leather for diamonds.

Hired by Tiffany & Co. last year as chief artistic director, he was brought in to overhaul the iconic jewelry brand’s design, attract younger shoppers and reverse an extended sales slump. On Tuesday, Krakoff released his debut collection, dubbed “Paper Flowers,” a line that serves as a vital piece of Tiffany’s strategy to introduce more items, more often. By shaking things up and keeping product lines fresh, the jeweler’s executives hope to inject some excitement into a dusty brand in serious need of a revamp.