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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 American fashion company. It is known for designing and selling clothes, accessories, and perfumes for women and men. Its most popular brands are Kate Spade New York and Jack Spade.
The company has had a few different names. It started as Liz Claiborne Inc. in 1976. Later, it was called Fifth & Pacific Companies, Inc. Today, it is owned by a larger company called Tapestry, Inc..
Contents
The Company's History
Starting as Liz Claiborne
The company was founded in 1976 in Manhattan by four people: Liz Claiborne, Art Ortenberg, Leonard Boxer, and Jerome Chazen. They named it Liz Claiborne Inc.
The company grew very quickly. In 1981, it began selling shares on the stock market. By 1986, it was so successful that it made the Fortune 500 list, which ranks the largest companies in the United States. At that time, its sales were $1.2 billion a year.
Liz Claiborne, the main founder, retired from the company in 1989.
Changing Names and Focus
On May 15, 2012, Liz Claiborne Inc. changed its name to Fifth & Pacific Companies, Inc. The company decided to focus on three of its most popular brands: Juicy Couture, Kate Spade New York, and Lucky Brand Jeans.
A year later, in 2013, the company sold Juicy Couture for $195 million. Soon after, it also sold Lucky Brand Jeans for $225 million. This left Kate Spade as the main brand of the company.
Because the company was now focused almost entirely on the Kate Spade brand, it changed its name one more time. On February 25, 2014, it officially became Kate Spade & Company.
Growth and Big Changes
A Kate Spade New York store on Madison Avenue in New York City.
Over the years, the company bought several other fashion brands to grow its business.
- In 1999, it bought Lucky Brand Jeans.
- In 2001, it bought a brand called Mexx.
- In 2003, it bought Juicy Couture.
- In 2006, it bought Kate Spade New York.
For a while, the company owned nearly 40 different brands. However, it later decided to simplify its business.
New Partnerships
In 2009, the company made a deal with the department store JCPenney. This deal made JCPenney the only store to sell the Liz Claiborne brand. The company also sold its Dana Buchman brand to the store Kohl's.
These changes were part of a plan to focus on the most successful parts of the business, especially the Kate Spade brand.
Joining with a Larger Company
In 2017, another major fashion company called Coach, Inc. (which is now named Tapestry, Inc.) bought Kate Spade & Company for $2.4 billion.
This purchase made Kate Spade a part of the Tapestry family of brands. The goal was to help both companies grow stronger in the worldwide luxury fashion market. It also helped them reach more young shoppers who loved the fun and colorful style of Kate Spade.
The Brands of the Company
The main brands of Kate Spade & Company are:
- Kate Spade New York: Sells handbags, clothing, jewelry, and accessories for women.
- Jack Spade: A brand that offered bags and clothing for men.
The company also ran the Adelington Design Group, which designed and made jewelry for other brands.