Kate Spade has gone from many different family titles, all in hopes of one day taking over. Yesterday, it happened. Former parent company Fifth and Pacific who was once known as Liz Claiborne Inc. changed their name for the 3rd time to simply Kate Spade & Co. (effective Feb 25.) What does this mean? This means that when Kate Spade also had siblings like Juicy Couture, Liz Claiborne, and Lucky Brand, they been have been the only brand to remain relevant and profitable. So profitable that their sales before tax & interest, etc. are estimated to come in around $165 million dollars for the 2014 year.
2014 plans for Kate include:
“• Expanding the Kate Spade New York brand through additional domestic and international freestanding stores.
• Adding product categories and offering more entry-level and high-end products to the offerings.
• Growing Kate Spade Saturday domestically and overseas as a direct-to-consumer brand.
• Signing new licensed categories for its growing Jack Spade men’s accessories and sportswear brand.” (wwd.)
To specify, that means 35 new stores in North America, adding a e-commerce site to the UK (where e-commerce makes up for 20% of Kate Spade’s sales), licensing eye wear to Safilo to add a new product category to Jack Spade, oh and taking over the world. Here is to another strong 2014!