Reed Krakoff launches his budget Reed collaboration in Kohl's stores in the US today following an online debut on April 15. The man who put Coach bags on the map is offering affordably priced bags from $59 to $129, plus ready-to-wear, and a selection of mini bags scaled-down from his now-discontinued upscale Reed Krakoff label but at less than a tenth of the price of the originals.

More than a limited-time designer collaboration, this is a full spring collection that isn't expected to sell out in a few days. Developed in a deal with Global Brands Group, there's talk of further seasonal collections head, although no concrete deal has been signed.

The promotional campaign kicked off with Krakoff giving a series of interviews and with a pop-up shop in Grand Central Terminal's Vanderbilt Hall in New York City, a location that sees 750,000 people passing by each day.

Krakoff said he feels there's a major gap in the market at low prices for designer accessories and bags, despite the price level being crowded as far as ready-to-wear is concerned.

Kohl's, which has been struggling of late, has high hopes for the launch and Krakoff said that the online debut saw 5,000 bags sold on day one.