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Kate Spade New York is an American luxury fashion design house that was founded in January 1993 by Kate and Andy Spade. Jack Spade is the brand's line dedicated to men while the original Kate Spade New York brand competes with Michael Kors. In 2017, the company was purchased by and is now part of, Tapestry, Inc., formerly known as Coach.
Who the brand is, is intertwined with who you as a customer for it are. We are all the heroines of our own stories. From that point of view, the brand sees that women in all their differences are in a way or another all kate spade new york.
Kate Spade New York was founded by Katherine Noel Brosnahan and her husband/business partner Andy Spade. Kate Spade New York started after a suggestion from Andy when Katherine wasn't sure about her next career move after logging six years at Mademoiselle. Originally, the business started out with the Sam handbag and was only making colorful lively bags for consumers. Eventually, Andy withdrew 35,000 dollars from his 401K account to fund the production of Kate’s handbags. Her debut line infused classic shapes, colors, and fabrics into a now-iconic square bag with a little black label sewn to the outside of the bag that said “Kate Spade New York.” The brand's main target market at this point in time is the upper-middle class.
In 1996, Spade's company opened its first shop in New York City's SoHo. Kate Spade rose in eight months after a journalist at Cleveland Research Co. recommended buying the shares because of the brand’s growth potential. Everywhere people went to New York from about 1997 to 2000, it would have been impossible to avoid seeing women carrying that simple nylon bag created by Kate Spade. The business was one of the first of its time to go digital, by using iPads, cell phones, and computers, as a part of the daily routine when working at one of its stores.
The company started from nothing, and after 1998 it started to expand, with sales totaling 27 million dollars. By 2006, revenue was reportedly near 99 million dollars. In 1999, Neiman Marcus Group paid 34 million dollars for a 56% stake in the company. In 2006, Neiman Marcus Group acquired the remaining 44% stake in Kate Spade for 59.4 million dollars, valuing the company at 134 million dollars.
Since the brand's market launch in 1993 and with a collection of six essential handbags, Kate Spade has stood for optimistic femininity. Today the company is a global lifestyle company that not only produces handbags but also clothing, shoes, jewelry, home decoration, technical accessories, and many other everyday objects.
Kate Spade pays great importance to thoughtful details and believes that a layer of elegant lightness not only looks good, it feels good too. According to the brand, modern, sophisticated colors are a personal style statement that is shown in everything that holds the company's brand name and identity. These basic principles that define Kate's unique style, are what stand for pure joie de vivre or the pure joy of living life.
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