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Kate Spade & Company facts for kids
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| Subsidiary | |
| Industry | Fashion |
| Founded | New York, New York (1976) |
| Headquarters |
New York, New York
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United States
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Key people
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Anna Bakst (CEO) George M. Carrara (COO) Deborah Lloyd (CCO) |
| Products | Clothing Accessories Perfumes |
| Revenue |  1,242.72 million USD (2015) |
 17.09 million (2015) |
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Number of employees
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6,800 (2014) |
| Parent | Tapestry, Inc. |
Kate Spade & Company is a famous fashion brand. It creates and sells clothing, accessories, and perfumes. The company started in 1976 in Manhattan, New York. It was first known as Liz Claiborne Inc. Later, it changed its name to Fifth & Pacific Companies, Inc. Since 2014, it has been called Kate Spade & Company. Today, it is owned by Tapestry, Inc. and focuses on its popular Kate Spade New York and Jack Spade labels.
Contents
History of Kate Spade & Company
The company began in 1976. It was founded by Liz Claiborne, Art Ortenberg, Leonard Boxer, and Jerome Chazen. In 1981, the company became public, meaning its shares could be bought and sold. Just ten years after it started, in 1986, it joined the Fortune 500 list. This list includes the 500 largest companies in the United States.
Over the years, the company changed its focus. On May 15, 2012, Liz Claiborne Inc. officially changed its name to Fifth & Pacific Companies, Inc. At this time, it focused on three main brands: Juicy Couture, Kate Spade New York, and Lucky Brand Jeans.
However, this focus soon changed again. In 2013, the company decided to sell Juicy Couture. Later that year, it also sold Lucky Brand Jeans. This left Kate Spade as the company's main and only brand. Because of this, on February 25, 2014, Fifth & Pacific Companies changed its name once more to Kate Spade & Company.
How the Business Grew
A Kate Spade New York store on Madison Avenue
Over time, the original founders of the company retired. Jerome Chazen became the Chairman in 1989. Later, Paul Charron took over as chairman and CEO in 1996. During his time, the company bought several other brands. These included Lucky Brand Jeans in 1999, Mexx in 2001, and Juicy Couture in 2003. In 2006, the company also bought Kate Spade New York.
Under Paul Charron's leadership, the company became very well-known. It grew to include almost 40 brands and earned billions of dollars each year. After Charron retired in 2006, William McComb became the new CEO.
Later, the company made some big changes to its brands. In 2009, JC Penney Co. became the only store to sell the Liz Claiborne brand. This meant Liz Claiborne clothes would no longer be sold in other department stores.
In 2011, the company sold its Dana Buchman brand to Kohl's. It also sold the rights to its Liz Claiborne and Monet brands to JC Penney. By 2013, the company decided to focus only on the Kate Spade brand. This was done by selling Juicy Couture and Lucky Brand Jeans. This made Kate Spade & Company a "mono-brand" company, meaning it focused on just one main brand.
Company Leaders
Deborah Lloyd joined Kate Spade New York in 2007. She was the president and chief creative officer. This meant she was in charge of all the creative parts of the brand. She oversaw product design and how things were presented. She retired in 2018, and Nichola Glass took over her role.
Craig A. Leavitt was the chief executive officer from 2014 to 2017. He left after the company was bought by Coach. Coach is now called Tapestry. In 2018, Anna Bakst became the new CEO of Kate Spade & Company. She had previously worked at Michael Kors. She served as CEO for less than two years before leaving at the end of 2019.
Brands of Kate Spade & Company
Today, Kate Spade & Company mainly focuses on two brands:
The company also runs the Adelington Design Group. This group designs and develops jewelry that is sold under other companies' names.