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Article: KATE SPADE AIMS TO BROADEN HORIZONS AS A LIFESTYLE BRAND; APPROACHING ITS 10TH ANNIVERSARY, THE EVOLVING HANDBAG COMPANY -- FOUNDED ON A SHOE STRING BUDGET -- HAS REACHED SALES OF $70 MILLION, BUT NOW EYES THE $100 MILLION MARK.
- Article from:
- Footwear News
- Article date:
- December 9, 2002
- Author:
CopyrightCOPYRIGHT 2002 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- As accessories firm Kate Spade approaches its 10th year in business, the company is plotting a series of moves to cement its status as a lifestyle brand.
"We are definitely in growth mode," said designer Kate Spade. "But we are growing by adding product categories that we have a feel for and that make sense for us."
The handbag firm Spade founded with her husband, Andy, on a shoestring in 1993 now has total sales of about $70 million, and despite a tough retail climate, company executives feel the brand has the potential to achieve at least $100 million annually.
Here are some of the initiatives in development:
A new Kate ...