SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    Form 10-Q

(X)  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

                  For the quarterly period ended March 31, 1997


( )  TRANSITION  REPORT  PURSUANT  TO SECTION  13 OR 15(d) OF THE  SECURITIES
     EXCHANGE ACT OF 1934

                         Commission File Number 1-13082

                         KENNETH COLE PRODUCTIONS, INC.
             (Exact name of registrant as specified in its charter)

            New York                                  13-3131650
   (State or other jurisdiction of                 (I.R.S. Employer
   incorporation or organization)                  Identification Number)

   152 West 57th Street, New York, NY                   10019
   (Address of principal executive offices)           (Zip Code)

        Registrant's telephone number, including area code (212) 265-1500

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes (X) No ( )

Indicate the number of shares of each of the issuer's  classes of common  stock,
as of the latest practicable date:

                   Class                                    May 14, 1997
                   -----                                    ------------
    Class A Common Stock ( $.01 par value)                   7,363,946
    Class B Common Stock ( $.01 par value)                   5,785,398



                                     Page 1

<PAGE>




                         Kenneth Cole Productions, Inc.
                                  Index to 10-Q

<TABLE>
<CAPTION>

Part I.  FINANCIAL INFORMATION

Item 1.  Financial Statements (Unaudited)

<S>                                                                                                       <C>
         Consolidated Balance Sheets as of  March 31, 1997 and December 31, 1996 ..................       3

         Consolidated Statements of Income for the three months
          ended March 31, 1997 and 1996 ...........................................................       5

         Consolidated Statement of Changes in Shareholders' Equity for the three
         months ended March 31, 1997 ..............................................................       6

         Consolidated Statements of Cash Flows for the three months
         ended March 31, 1997 and 1996 ............................................................       7

         Notes to Consolidated Financial Statements ...............................................       8


Item 2.  Management's Discussion and Analysis of Results of Operations
         and Financial Condition ..................................................................      10

Part II. OTHER INFORMATION

Item 1.  Legal
Proceedings .......................................................................................      13

Item 2.  Changes in Securities ....................................................................      13

Item 3.  Defaults Upon Senior Securities ..........................................................      13

Item 4.  Submission of Matters to a Vote of Security Holders ......................................      13

Item 5.  Other
Information .......................................................................................      13

Item 6.  Exhibits and Reports on Form 8-K .........................................................      14

Signatures ........................................................................................      15
</TABLE>




                                     Page 2

<PAGE>



                 Kenneth Cole Productions, Inc. and Subsidiaries

                           Consolidated Balance Sheets

<TABLE>
<CAPTION>

                                                                                           March 31,           December 31,
                                                                                             1997                  1996
                                                                                     -------------------------------------------
                                                                                          (Unaudited)

Assets
Current assets:
<S>                                                                                  <C>                       <C>         
   Cash                                                                              $         765,000          $  1,626,000
   Due from factors                                                                         26,671,000            17,976,000
   Accounts receivable, net                                                                  2,363,000             3,339,000
   Inventories                                                                              31,865,000            29,265,000
   Prepaid expenses and other current assets                                                 1,569,000             1,001,000
   Deferred taxes                                                                              755,000               755,000
                                                                                     -------------------------------------------
Total current assets                                                                        63,988,000            53,962,000

Property and equipment
   Furniture and fixtures                                                                    3,478,000             3,234,000
   Machinery and equipment                                                                   3,113,000             2,916,000
   Leasehold improvements                                                                    6,686,000             6,610,000
                                                                                     -------------------------------------------
                                                                                            13,277,000            12,760,000
   Less accumulated depreciation and amortization                                            3,849,000             3,428,000
                                                                                     -------------------------------------------
Net property and equipment                                                                   9,428,000             9,332,000
                                                                                     -------------------------------------------

Other assets:
   Deferred taxes                                                                              145,000               145,000
   Deposits and sundry                                                                       1,883,000             1,816,000
                                                                                     -------------------------------------------
Total other assets                                                                           2,028,000             1,961,000
                                                                                     ===========================================
Total assets                                                                         $      75,444,000       $    65,255,000
                                                                                     ===========================================

</TABLE>

          See accompanying notes to consolidated financial statements.







                                     Page 3

<PAGE>
 

                 Kenneth Cole Productions, Inc. and Subsidiaries

                                               Consolidated Balance Sheets
<TABLE>
<CAPTION>


                                                                     March 31,        December 31, 1996
                                                                        1997
                                                                ------------------------------------------
                                                                     (Unaudited)

Liabilities and shareholders' equity Current liabilities:
<S>                                                               <C>                  <C>             
   Accounts payable                                               $      7,957,000     $     12,738,000
   Accrued expenses and other current liabilities                        1,970,000            2,376,000
   Advances due under revolving credit facility                         10,510,000              489,000
   Income taxes payable                                                  2,483,000            1,247,000
   Deferred license income                                                 501,000               89,000
                                                                ------------------------------------------
Total current liabilities                                               23,421,000           16,939,000
                                                                ------------------------------------------

Deferred rent payable                                                      615,000              521,000
Other non-current liabilities                                            1,322,000            1,196,000

Shareholders' equity
   Preferred stock, par value $1.00, 1,000,000 shares
       authorized, none outstanding
   Class  A  common  stock,  par  value  $.01,
        20,000,000  shares  authorized,
        7,363,946, and 7,353,179 outstanding in 1997
     and 1996                                                               74,000               74,000
   Class B common stock, par value $.01,
        6,000,000 shares authorized, 5,785,398
        outstanding in 1997 and 1996                                        58,000               58,000
   Additional paid-in capital                                           19,238,000           19,104,000
   Cumulative Translation Adjustment                                        45,000
   Retained earnings                                                    30,684,000           27,432,000
   Deferred compensation                                                   (13,000)             (69,000)
                                                                ------------------------------------------

Total shareholders' equity                                              50,086,000           46,599,000

                                                                ------------------------------------------
Total liabilities and shareholders' equity                        $     75,444,000     $     65,255,000
                                                                ==========================================

</TABLE>


          See accompanying notes to consolidated financial statements.

                                     Page 4

<PAGE>



                 Kenneth Cole Productions, Inc. and Subsidiaries

                        Consolidated Statements of Income
                                   (Unaudited)
<TABLE>
<CAPTION>


                                                                           Three Months Ended
                                                                                March 31
                                                            -------------------------------------------------
                                                                      1997                    1996
                                                            -------------------------------------------------

<S>                                                          <C>                      <C>          
Net sales                                                    $   44,910,000           $  35,110,000
Cost of goods sold                                               27,294,000              20,325,000
                                                            -------------------------------------------------
Gross profit                                                     17,616,000              14,785,000

Licensing and other income                                        1,056,000                 516,000

Selling, general and administrative and shipping and
   warehousing                                                   13,140,000              10,250,000
                                                            -------------------------------------------------
Operating income                                                  5,532,000               5,051,000
Interest expense, net                                               112,000                  41,000
                                                            -------------------------------------------------

Income before provision for income taxes
                                                                  5,420,000               5,010,000
Provision for income taxes                                        2,168,000               2,054,000
                                                            -------------------------------------------------
Net income                                                  $     3,252,000          $    2,956,000
                                                            =================================================


Net income per share                                        $           .24        $            .22
                                                            =================================================

</TABLE>

          See accompanying notes to consolidated financial statements.









                                     Page 5


<PAGE>


                 Kenneth Cole Productions, Inc. and Subsidiaries

            Consolidated Statement of Changes in Shareholders' Equity
                                   (Unaudited)
<TABLE>
<CAPTION>


                        Class A                 Class B      
                      Common Stock           Common Stock      
                      ------------           ------------      Total    Additional   Cumulative                Deferred
                    Number              Number                 Common    Paid-in     Translation  Retained     Compen-
                  of shares    Amount   of shares    Amount     Stock    Capital     Adjustment   Earnings     sation       Total
                  ---------    ------   ---------    ------     -----    -------     ----------   --------     ------       -----
Shareholders' 
<S>               <C>         <C>       <C>          <C>       <C>       <C>         <C>          <C>         <C>        <C>
   equity         7,353,179   $74,000   5,785,398    $58,000   $132,000  $19,104,000            $27,432,000  $(69,000)   $46,599,000
   January 1,
   1997


Exercise of
   stock             10,767                                                  134,000                                         134,000
   options,
   including
   tax  benefit

Net income                                                                                        3,252,000                3,252,000

Translation                                                                            $45,000                                45,000
   adjustment

Amortization of                                                                                                56,000         56,000
   deferred
   compensation
                 -------------------------------------------------------------------------------------------------------------------


Shareholders'
   equity         7,363,946   $74,000   5,785,398  $58,000     $132,000  $19,238,000   $45,000  $30,684,000  $(13,000)   $50,086,000
   March  31,
   1997
                 ===================================================================================================================

</TABLE>



          See accompanying notes to consolidated financial statements.





                                     Page 6


<PAGE>



                 Kenneth Cole Productions, Inc. and Subsidiaries
                Consolidated Statements of Cash Flows (Unaudited)

<TABLE>
<CAPTION>

                                                                                       Three Months Ended
                                                                                           March 31,
                                                                                     1997              1996
                                                                              -------------------------------------
Cash flows from operating activities
<S>                                                                           <C>                <C>             
Net income                                                                    $     3,252,000    $      2,956,000
Adjustments to reconcile  net income to net cash 
   (used in) provided by operating activities:
     Depreciation and amortization                                                     421,000            226,000
     Amortization of deferred compensation                                              56,000             59,000
     Changes in assets and liabilities:
       Increase in due from factors                                                 (8,695,000)        (3,434,000)
       Decrease in accounts receivable                                                 976,000            766,000
       Increase in inventories                                                      (2,600,000)        (2,176,000)
       Increase in prepaid expenses and other current assets                          (568,000)           (75,000)
       Increase in deposits                                                            (67,000)          (141,000)
       Decrease (increase) in accounts payable                                      (4,781,000)           213,000
       Increase in income taxes payable                                              1,284,000          1,113,000
       Increase (decrease) in accrued expenses and other current 
        liabilities                                                                      6,000            (27,000)
       Increase in other non-current liabilities                                       220,000            160,000
                                                                              -------------------------------------
Net cash used in operating activities                                              (10,496,000)          (360,000)
Cash flows from investing activities
Acquisition of property and equipment, net                                            (517,000)          (568,000)
                                                                              -------------------------------------
Net cash used in investing activities                                                 (517,000)          (568,000)
Cash flows from financing activities
Proceeds from revolving line of credit, net                                         10,030,000
Proceeds from exercise of stock options                                                 86,000             48,000
Repayment of long-term debt                                                             (9,000)           (14,000)
                                                                              -------------------------------------
Net cash provided by financing activities                                           10,107,000             34,000

Effect of exchange rate changes on cash                                                 45,000
                                                                              -------------------------------------
Net decrease in cash                                                                  (861,000)          (894,000)
Cash, beginning of period                                                            1,626,000          2,204,000
                                                                              -------------------------------------
Cash, end of period                                                           $        765,000      $   1,310,000
                                                                              =====================================
Supplemental  disclosures of cash flow  information  
Cash paid during the period for:
   Interest                                                                   $       134,000    $         57,000
   Income taxes                                                               $       883,000    $        994,000

</TABLE>

          See accompanying notes to consolidated financial statements.



                                     Page 7


<PAGE>



                 Kenneth Cole Productions, Inc. and Subsidiaries
                   Notes to Consolidated Financial Statements
                                   (Unaudited)

General

The accompanying  unaudited consolidated financial statements have been prepared
in  accordance  with  generally  accepted  accounting   principles  for  interim
financial information.  Accordingly,  they do not include all of the information
and footnotes required by generally accepted accounting  principles for complete
financial  statements.  The data  contained in these  financial  statements  are
unaudited  and are subject to year end  adjustment,  however,  in the opinion of
management, all adjustments (consisting of normal recurring accruals) considered
necessary for a fair presentation have been included.  Operating results for the
three months ended March 31, 1997 are not necessarily  indicative of the results
that  may be  expected  for the  year  ended  December  31,  1997.  For  further
information,  refer  to the  consolidated  financial  statements  and  footnotes
thereto  included in the Company's annual report on Form 10-K for the year ended
December 31, 1996.

The consolidated balance sheet at December 31, 1996 was derived from the audited
financial statements.

Earnings Per Share

The Company calculates  earnings per share ("EPS") in accordance with Accounting
Principles Board Opinion 15, "Earnings per share" ("APB 15"). Earnings per share
is based on the  weighted  average  number of shares of common  stock and common
stock equivalents, if dilutive, outstanding during each period.

In March 1997,  the Financial  Accounting  Standards  Board (the "FASB")  issued
Statement  of  Financial  Accounting  Standards  No. 128,  "Earnings  per Share"
("SFAS128"),  which upon  adoption  will  supersede  APB 15 and is  intended  to
simplify and  harmonize  the EPS  calculations  in the United  States with those
common  in other  countries  and to  present  two EPS  calculations:  (i)  basic
earnings  per common  share  which is  computed  by  dividing  net income by the
weighted average number of shares of common stock outstanding during the periods
presented, and (ii) diluted earnings per common share which is determined on the
assumptions  that options  issued to employees are exercised and  repurchased at
the average price for the periods presented. SFAS 128 is effective for financial
statements  for the year ended  December 31, 1997.  The Company does not believe
the  adoption  of  SFAS  128  will  have a  material  impact  to  the  Company's
computation of earnings per share.



                                     Page 8


<PAGE>


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS


Results of Operations

The following table sets forth the Company's condensed  consolidated  statements
of income in  thousands  of  dollars  and as a  percentage  of net sales for the
quarters ended March 31, 1997 and March 31, 1996.


                                                     Three Months Ended

                                               March 31, 1997    March 31, 1996
                                               --------------    --------------
Net Sales                                      44,910     100%   35,110     100%
Gross Profit                                   17,616      39.2  14,785     42.1
Licensing Income                                1,056       2.4     516      1.5
Selling general and administrative expense     13,140      29.3  10,250     29.2
Operating income                                5,532      12.3   5,051     14.4
Interest expense, net                             112        .2      41       .1
Income before income taxes                      5,420      12.1   5,010     14.3
Income tax expense                              2,168       4.8   2,054      5.9
Net Income                                      3,252       7.3   2,956      8.4


Three Months Ended March 31, 1997 Compared to Three Months Ended March 31, 1996

Net sales  increased  $9.8  million,  or 27.9%,  to $44.9  million for the three
months ended March 31, 1997 from net sales of $35.1 million for the three months
ended March 31, 1996. Net sales of the Company's wholesale operations, excluding
sales to its retail division, increased $6.6 million, or 22.2%, to $36.1 million
from $29.5  million.  This  increase was  primarily due to increases in sales of
Kenneth Cole branded  men's  footwear,  Unlisted  branded  women's  footwear and
Unlisted  and  Kenneth  Cole  Reaction  handbags  as a result of  greater  brand
awareness,  consumer  acceptance and increased sales of its core basic products.
Sales through the Company's retail and outlet stores increased $3.3 million,  or
58.4%,  to $8.8 million for the three  months  ended March 31, 1997  compared to
$5.5 million for the three months ended March 31, 1996.  This increase  reflects
the sales of 25 stores which generated a 17.1%  comparable store sales increase,
the sales of nine retail  stores open for the entire first quarter of 1997 which
were not open in the first  quarter  of 1996 and the sales of one  retail  store
which opened March 29, 1997.

Gross profit was $17.6  million for the three  months  ended March 31, 1997,  an
increase of $2.8 million, or 1.9%, from $14.8 million for the three months ended
March 31,  1996.  Gross  profit was 39.2% of net sales  compared to 42.1% of net
sales for the three  months  ended  March 31,  1997 and 1996,  repectively.  The
decrease in gross margins as a percentage  to sales was due to higher  inventory
markdowns  in  women's  footwear,  as well as a  higher  percentage  of sales of
merchandise  that have lower  margin  levels  including  sales of private  label
merchandise.

                                     Page 9
<PAGE>

Selling, general and administrative expenses, including shipping and warehousing
costs,  were $13.1 million (29.3% of net sales) for the three months ended March
31, 1997  compared to $10.3  million  (29.2% of net sales) for the three  months
ended  March 31,  1996.  The  increase in  selling,  general and  administrative
expenses was primarily  attributable  to the hiring of  additional  personnel to
support the Company's  growth,  and to the additional  retail and outlet stores,
which carry a higher  expense  level as a percentage of sales than the wholesale
division.

The Company continues to expand its licensing efforts,  resulting in an increase
in licensing income of 105% to $1.0 million for the three months ended March 31,
1997  compared to  licensing  income of $0.5  million for the three months ended
March 31, 1996.

As a result of the foregoing,  operating  income  increased 9.5% to $5.5 million
(12.3% of net sales) from $5.1 million (14.4% of net sales) for the three months
ended March 31, 1997 and March 31, 1996 respectively.


Liquidity and Capital Resources

The Company uses cash flows from  operations  and  borrowings  under its line of
credit as the  primary  sources of  financing  for its  expansion  and  seasonal
requirements. Cash requirements vary from time to time as a result of the timing
of the receipt of  merchandise  from  suppliers,  the delivery by the Company of
merchandise  to its  customers,  the level of accounts  receivable  and due from
factors  balances and the  Company's  inventory  levels.  Cash used by operating
activities was $10.5 million for the three months ended March 31, 1997, compared
to $0.4 million used in  operating  activities  for the three months ended March
31, 1996. The decrease in cash flow from operations is attributable, in part, to
the timing of the payment of trade accounts  payable and increased  sales during
March,  resulting  in a higher due from  factor  balance.  At March 31, 1997 and
December  31,  1996  working   capital  was  $40.6  million  and  37.0  million,
respectively.

The Company currently has a line of credit which allows for borrowings, letter
of credits and bankers acceptances up to a maximum of $25.0 million to finance
working capital requirements.

Capital expenditures totaled $517,000 and $568,000 in the three months ended
March 31, 1997 and 1996, respectively. Capital expenditures relate primarily to
the Company's retail and outlet store expansion and to the further development
and enhancement of the Company's management information systems.

The Company believes that cash flows from operations and borrowings under its
existing credit facilities will be sufficient to satisfy the Company's working
capital requirements for the next twelve months.



                                     Page 10

<PAGE>



Important Factors Relating to Forward Looking Statements

This report contains certain forward looking statements, as defined in The
Private Securities Litigation Reform Act of 1994, with respect to cash flows
from operation. The forward-looking statements contained in the Form 10-Q were
prepared by management and are qualified by, and subject to, significant
business, economic, competitive, regulatory and other uncertainties and
contingencies, all of which are difficult or impossible to predict and many of
which are beyond the control of the Company. Accordingly, there can be no
assurance that the forward-looking statements contained in this Form 10-Q will
be realized or that actual results will not be significantly higher or lower.
































                                     Page 11


<PAGE>



                           Part II - OTHER INFORMATION


Item 1.  Legal Proceedings.   None

Item 2.  Changes in Securities. None

Item 3.  Defaults Upon Senior Securities. None

Item 4.  Submission of Matters to a Vote of Security Holders.  None

Item 5.  Other Information. None

Item 6.  Exhibits and Reports on Form 8-K.

         (a) Exhibits:

                  27       Financial Data Schedule.

         (b) Reports on Form 8-K: The Company did not file any reports on Form
             8-K during the three months ended March 31, 1997.





















                                     Page 12

<PAGE>



                                   SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                                Kenneth Cole Productions, Inc.
                                                ------------------------------
                                                      Registrant




May 14, 1997                                    /s/ STANLEY A. MAYER
                                                --------------------
                                                Stanley A. Mayer
                                                Executive Vice President and
                                                Chief Financial Officer

























                                     Page 13