Kate Spade Net Worth 2020, Biography, Career, Awards, and Personal Life.
Kate Spade Net Worth 2020 Kate Spade was an American fashion designer, businesswoman, and the former co-owner of the designer brand, ‘Kate Spade New York’. In 2006, she sold her stake in the company.
In 2016, she, along with her partners, started a new handbag and footwear brand, ‘Frances Valentine’.
Kate Spade was born as Katherine Noel Brosnahan on December 24, 1962, in Kansas City, Missouri. She is of Irish descent.
Kate Spade attended St. Teresa’s Academy, an all-girl Catholic high school.
Thereafter, she attended the University of Kansas for some time and then transferred to Arizona State University, where she graduated with a degree in journalism, in 1985.
- In 1986, Kate Spade found work in the accessories department of Mademoiselle in Manhattan. She was then known by her maiden name Kate Brosnahan. While at Mademoiselle, she moved in with Andy Spade, a native of Scottsdale, Arizona.
- Debuting with just six silhouettes, Kate Spade launched her own brand of handbags. What made her handbags distinct from those in the market was their modern yet stylish approach. They were sleek with bouts of color and available in utilitarian shapes.
- In 1996, with increasing demand, ‘Kate Spade Handbags’ was born in a plush area in Manhattan’s trendy SoHo district. The first boutique, a 400-square-foot shop, was a hit in the fashion circle. Eventually, she moved its headquarters into a 10,000-square-foot space in West 25th Street.
- As the name implies, Kate Spade Handbags initially sold only handbags. However, with the increasing demand, they extended their product range to clothing, jewelry, shoes, stationery, eyewear, baby items, fragrances, and so on. In 2004, ‘Kate Spade At Home’ was launched as a home collection brand. It featured bedding, bath items, tabletops, wallpaper and various items for the home.
- Despite selling 56% stake to Marcus Group, Spade continued to remain active in the brand that she had built. She overlooked at its creative output and was extremely conscious of its product line-up. Alongside her fashion chain, in 2004, Spade came up with three books in which she shared her personal style and philosophies.
- In 2006, Spade sold the remaining 44% of her stake to Neiman Marcus Group and took time off to raise her son. The Group then sold the Kate Spade label for a whopping $124 million to Liz Claiborne Inc., which was later renamed to Fifth & Pacific.
- Around the same time that Spade gave away her label, she, together with her husband, invested in Plum TV, a small television network that broadcasts in the elite vacation spots: the Hamptons, Nantucket, and Martha’s Vineyard.
- In February 2014, Fifth & Pacific changed its name to Kate Spade & Company. Craig A. Leavitt became the new CEO, succeeding William McComb. Today, Kate Spade New York has over 140 retail shops and outlet stores across the United States and more than 175 shops internationally. Their products are sold in more than 450 stores worldwide.
- In 2016, Spades along with their long-time friends, Elyce Arons and shoe designer Paola Venturi, launched a new brand called Frances Valentine, a collection of luxury footwear and handbags. The names Frances and Valentine are from her family members and she added the two names to her own legal name.
In 1996, the Council of Fashion Designers of America (CFDA) awarded her with America’s New Fashion Talent in Accessories for her classic designs. Two years later, CFDA yet again honored her for ‘Best Accessory Designer of the Year’.
In 1999, Kate Spade was honored when her handbags were exhibited at the Cooper Hewitt Museum for the first national design triennial, celebrating American design excellence.
In 2004, Spade’s home collection won her three design awards, House Beautiful’s ‘Giants of Design Award for Tastemaker’, Bon Appetit’s ‘American Food and Entertaining Award for Designer of the Year’, and Elle Decor’s ‘Elle Decor International Design Award for Bedding’.
The Henry W. Bloch School of Management at the University of Missouri, Kansas City inducted her in the Entrepreneur Hall of Fame in 2017. The same year, Fact Company named her one of the Most Creative People in Business.
Kate Brosnahan first met Andy Spade in 1983 while they were in college. Later, they worked together at the Mademoiselle. Love sprouted between the two and finally, they tied the nuptials in 1994.
The couple welcomed their daughter, Frances Beatrix Spade, in February 2005.
On 5 June 2018, Kate Spade was found dead in her Manhattan apartment by her maid. She had committed suicide by hanging herself.
Kate Spade Net Worth
Kate Spade was an American fashion designer who had a net worth of $200 million at the time of her death in 2018.