Cole

By CNN Financial Correspondent Susan Lisovicz

NEW YORK (CNN) -- Kenneth Cole used a train as a central theme in his fashion show at Grand Central Station, and the women's shoe designer may be on track to become a major force in men's and women's wear.

Through affordable prices and provocative marketing that addresses social issues such as homelessness, Cole has grown his core business while attracting celebrities to his side.

"I'm a jeans and T-shirt guy so I wear his leather jackets with jeans and T-shirts," says actor Billy Baldwin.

But even Cole's father-in-law -- former New York Gov. Mario Cuomo -- calls his marketing style indulgent. "If it really worked for business, more people would be doing it. They don't because the first rule in business is be neutral ... because they want to sell to everybody," Cuomo said.

Cole expands into menswear

Men's and boys' wear account for as much as $25 billion in annual sales. But Cole's expansion into the crowded market is a decided risk.

"It's very easy to be a little bit off the mark. And going into new categories, you multiply that risk a little bit," said Sally Wallick, a retail analyst with Legg Mason.

In only his second year in menswear, some veteran observers say Kenneth Cole is making his mark.

"He's new to the menswear business, but I think it's with a bullet. If I was 10 years younger and 25 pounds lighter, I'd love them," said Graydon Carter, editor-in-chief of Vanity Fair.

Wall Street wants to see more than Kenneth Cole's fashion show. The company reports annual earnings later this month and is expected to report a 36 percent increase in net income on sales of $220 million.

Most of its sales come from shoes, but the designer expects that ratio to change through further expansion.

"We just rounded out the world of men's. ... At a certain point, we're going to look at women's and home," Cole said.

Kenneth Cole will become fashion's next super-brand only if he succeeds in getting consumers on board in menswear.

Kenneth Cole
      Kenneth Cole Fall '99 Runway Show for Men's Fashion

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